There are 4 measures for the characterization of the shape of a probability distribution: expectation (1st order raw moment), variance (2nd order central moment), skewness (expression in 3rd and 2nd order central moments) and kurtosis (expression in 4th and 2nd order central moments).
I intend to find a probability distribution whose mean, variance, skewness and kurtosis can be freely manipulated: like with 'sliders'.
Anybody can see the effect of say variance alone on the appearance of the distribution, without changing the kurtosis of it.
I went ahead with some initial workouts. They are attached below.
Note that the summation or the integral version of the expression of the raw moments applies as per whether we are working on the discrete or the continuous case of the problem, respectively.
Any leads after this?
- N.B.: I know that there's an impossible region of (skewness, kurtosis) tuples. I also know that probability distributions aren't just random shapes adjusted to a certain set of values of those 4 characters: they need to be meaningful and applicable to practical scenarios; perhaps most often, bell shaped in some way or the other. I also admit that my writing may contain numerous mistakes: please feel free but not obliged to mark out to the tiniest of them - from preposition errors to incorrect terminology.
