Moments in statistics | Moments about Mean, Arbitrary point | Deviation | Variance

Moments are deviations in a distribution.
Deviations may be about Mean or an Arbitrary point.
Moment of order 2 (squared deviation) about mean is called Variance.
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Three types of moments are:
1. Moments about arbitrary point 2. Moments about origin 3. Moments about mean
A Moment about Origin is a special case of a Moment about an arbitrary point where the arbitrary point is set to origin 0.
Moments about Mean (also called Central moments)
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Why Moments are important?
a. Describe the characteristic of a distribution
b. Represent a convenient and unifying method for summarizing several statistical measures such as measures of tendency, variation, skewness and kurtosis.

#moment #deviation #mean #variance #psnacademy

00:00 What are moments?
00:38 Different forms of deviations
01:58 Definition of moment
02:23 Examples of different deviations
06:21 What a moment talks about a distribution
06:53 Moments about Arbitrary point for Grouped data
08:57 Moments about Arbitrary point for Ungrouped data
10:39 Moments about Origin
11:02 Moments about Origin for Grouped data
12:25 Moments about Origin for Ungrouped data
13:39 Moments about Mean
13:47 Moments about Mean for Grouped data
15:39 Moments about Mean for Ungrouped data
16:23 Summary