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Kurtosis is a statistical measure that defines how heavily the tails of a distribution differ from the tails of a normal distribution. In other words, kurtosis identifies whether the tails of a given distribution contain extreme values. It is actually themeasure of outlierspresent in the distribution. Types of Kurtosis Mesokurtic : This distribution has kurtosis statistic similar to that of the normal distribution. It means that the extreme values of the distribution are similar to that of a normal distribution characteristic. This definition is used so that the standard normal distribution has akurtosis of three. Leptokurtic (Kurtosis > 3) :Distribution is longer, tails are fatter. Peak is higher and sharper than Mesokurtic, which means that data are heavy-tailed or profusion of outliers. Outliers stretch the horizontal axis of the histogram graph, which makes the bulk of the data appear in a narrow (“skinny”) vertical range, thereby giving the “skinniness” of a leptokurtic distribution. Platykurtic: (Kurtosis < 3 ):Distribution is shorter, tails are thinner than the normal distribution. The peak is lower and broader than Mesokurtic, which means that data are light-tailed or lack of outliers. The reason for this is because the extreme values are less than that of the normal distribution.
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