Raw moments of RV X are Expectations of powers of X --- Eg(X) where g(X)=X^r. Central moments are calculated after centering X at 0 by subtracting the mean. CAUTION: Since g(X)=X^r is an UNBOUNDED function, Eg(X) can become plus or minus infinity, and can also be the some of the two, which is not determinate. These cases require special handling, and will be ignored without explicit mention in the notes below.
2: Raw and Central Moments: Mean and Variance
4. Standardization: Subtract Mean and divide by Standard Error
5. Skewness: third moment of standardized variable
6. Kurtosis: fourth moment of standardized variable