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DateSweet Crude Brent Crude 17-May-9018.8917.0518-May-9018.7817.0821-May-9018.2616.6522-May-9017.5116.4823-May-9016.2515.724-May-9016.0215.825-May-9016.1215.9529-May-901815.4830-May-9017.8815.9831-May-9017.4715.31-Jun-9017.5115.434-Jun-9017.0915.355-Jun-9016.4114.786-Jun-9016.9114.87-Jun-9016.6515.038-Jun-9016.7814.6811-Jun-9016.8214.7312-Jun-9017.3914.95Create descriptive statistics including mean, mode, median, range, high, low, variance and standard deviation for the two different oil prices above.  Comment on the similarities and differences.  (Chapter 3)

Table 1 shows the descriptive statistics for the two different oil prices.
Table 1 Descriptive Statistics
Sweet Crude Brent Crude Mean17.2615.62Standard Error0.200.18Median17.2415.46Mode17.51NAStandard Deviation0.860.78Sample Variance0.740.61Kurtosis-0.62-0.65Skewness0.400.63Range2.872.40Minimum16.0214.68Maximum18.8917.08Sum310.74281.22Count1818The average price for Sweet crude oil (M  17.26, SD  0.86) is higher and more variable as compared to Brent crude oil (M  15.62, SD  0.78). The median price for Sweet crude oil is 17.24, which is higher than the median price of 15.46 for Brent crude oil. The range of Sweet crude oil price is 2.87 with minimum and maximum price being 16.02 and 18.89, respectively. The range of Brent crude oil price is 2.40 with minimum and maximum price being 14.68 and 17.08, respectively.
What is the kurtosis (research kurtosis on your own) and skew of the two oil prices shown above What does this mean Explain. (Chapter 3)

Skewnessis a measure of symmetry, or more precisely, the lack of symmetry. If the left tail is longer than the right tail than there is negative skewness (left skew), and if the right tail is longer than the left than there is positive skewness (right skew).

Kurtosis refers to the relative length of the tails and the degree of concentration in the center. A normal bell-shaped population is called mesokurtic and serves as a benchmark. A population that is flatter than a normal is called platykurtic while one that is more sharply peaked than a normal is leptokurtic.

The kurtosis and skew of the Sweet crude oil price is -0.62 and 0.40, respectively. This suggest that distribution of the Sweet crude oil price is positively skewed and platykurtic (flatter tails than normal).

The kurtosis and skew of the Brent crude oil price is -0.65 and 0.63, respectively. This suggest that distribution of the Sweet crude oil price is negatively skewed and platykurtic (flatter tails than normal).

Create a histogram for each of the two oil prices shown. (Chapter 2)