# Hieu Nguyen Phi, FRM

How I enjoy my life

# Probability

## Higher Order Moments Using the Survival Function

Students in a first-year probability course learn the concept of the moment of a random variable. The moments are related to various aspects of a probability distribution. In this context, the formula for the mean or the first moment of a non-negative continuous random variable is often shown in terms of its c.d.f. (or the survival function). However, higher order moments are also important, for example, to study the variance or the skewness of a distribution. In this note, we consider the \(r\)…

## Probability and Statistics

Probability and Statistics are two areas which seems to rather difficult for the undergraduate. When I was a college student, they are subjects that consume most of my time, making them become my nightmares every night. However, have you ever wondered that why they always go along with each other, at least in undergraduate program? Although at some universities, they might be separated in different faculties, most of economics programs recognize that they package Probability and Statistics into…