Moments of a Distribution

The moments of a probability distribution provide a comprehensive way to describe the shape and characteristics of the distribution. Each moment captures a different aspect of the distribution's behavior. The first four moments are the most commonly used.

First Moment: Mean (μ)

The first moment is the mean, which represents the average value of a dataset or distribution. It provides a single value that summarizes the central tendency of the data. Essentially, it tells us where the center of the distribution is located on the number line. The mean is a fundamental descriptive statistic that gives a quick snapshot of the central location of the data points.