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a normalized fourth moment of a distribution or dataset, or other aspects of fat tails
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Should we teach kurtosis in an applied statistics course? If so, how?
But kurtosis has virtually nothing to do with the peak, whether it is pointy, flat, bimodal or infinite. You can have all the above with small kurtosis and all of the above with large kurtosis. … Summary:
kurtosis is useful as a measures of tails (outliers).
kurtosis has nothing to do with the peak.
kurtosis is practically useful and should be taught, but only as a measure of outliers. …