A distribution of returns that has a greater percentage of small deviations from the mean and a greater percentage of extremely large deviations from the mean compared to a normal distribution:

A distribution of returns that has a greater percentage of small deviations from the mean and a greater percentage of extremely large deviations from the mean compared to a normal distribution:



A. is positively skewed.

B. has positive excess kurtosis.

C. has negative excess kurtosis.



Answer: B


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