Financial Mathematics: Statistics - Properties of Distributions

Probability distributions have a number of properties which help us summarize and characterize them. We'll look at some of these properties, how they are calculated and what they are used for.

Contents:

I) Mean
II) Median
III) Variance
IV) Skewness
V) Kurtosis

The Obsolescence of Time

Every year we perform a collection of rituals which include, but are not limited to:

• Staying up late.
• Drinking, lots of drinking.¹
• Watching a big colorful ball drop. 
• Writing "resolutions", a list of things we'll fail to do in the upcoming year (or week.)

We dub these rituals "New Year's Celebrations" for the New Year's holiday.