问题如下：
The following table shows various statistics for Portfolios 1, 2, and 3.
Compared with a normal distribution, the distribution of returns for Portfolio 3 most likely:
选项：
A.is less peaked.
B.has a greater number of extreme returns
C.has fewer small deviations from its mean.
解释：
B is correct.
Portfolio 3 has positive excess kurtosis (i.e., kurtosis greater than 3), which indicates that its return distribution is leptokurtic, is more peaked than normal, and has fatter tails. The fatter tails mean Portfolio 3 has a greater number of extreme returns.
老师，好：
这道题答案有extreme returns。课上讲的small extreme returns or losses是根据skewness判断的。这里如果按照skewness做的话，大于0，是postive skewness，应该是small extreme return啊。但答案是a great number of returns 求解，谢谢。
