What is the difference between excess kurtosis and kurtosis?
- Excess kurtosis is always greater than kurtosis
- Excess kurtosis is always less than kurtosis
- Excess kurtosis is kurtosis minus 3
- There is no difference between excess kurtosis and kurtosis
The difference between kurtosis and excess kurtosis comes down to a constant. Excess kurtosis is simply kurtosis minus 3. The "3" comes from the kurtosis of a normal distribution which is 3. Hence, excess kurtosis refers to kurtosis in relation to a normal distribution.
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