W-Peakedness: A Simulation based Study

Abstract

Kurtosis is a commonly used descriptive statistics. Kurtosis “Coefficient of excess” is critically reviewed in different aspects and is called as, measuring the fatness of the tails of the density functions, concentration towards the central value, scattering away from the target point or degree of peakedness of probability distribution. Kurtosis is referred to the shape of the distribution but many distributions having same kurtosis value may have different shapes while Kurtosis may exist when peak of a distribution is not in existence. Through extensive study of kurtosis on several distributions, Wu (2002) introduced a new measure called “W-Peakedness” that offers a fine capture of distribution shape to provide an intuitive measure of peakedness of the distribution which is inversely proportional to the standard deviation of the distribution. In this paper the work is extended for different others continuous probability distributions. Empirical results through simulation illustrate the proposed method to evaluate kurtosis by W-peakednes

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