Adjust for Skewness and Kurtosis in Excel
- From: Eric <eric8005@xxxxxxxxx>
- Date: Tue, 15 Apr 2008 13:38:17 EDT
Bear with me, as I'm a novice here.
If I have a distribution which is approximately normal, with just a slight skew and kurtosis, can I somehow adjust for that?
Say, I have the following aggregate numbers from the population data, but I don't have the actual detailed data they were generated from:
Mean: 12,210
Standard deviation: 2,080
Skewness: -0.036
Excess Kurtosis: 0.787
If I want to find where 95% of values surrounding the mean lie (is this called the confidence interval for the population mean?), without adjusting for skew and kurtosis, I would use something like:
=NORMINV(0.025, 12210, 2080)
=NORMINV(0.975, 12210, 2080)
...right?
Now, how would I adjust those values for skew and kurtosis?
Again, I'm a novice at this, so please correct me if I've done anything fundamentally wrong.
.
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