Statistical moments are quantitative measures that describe the shape and characteristics of a probability distribution. The first moment is the mean, which indicates the average value. The second moment is the variance, measuring the spread or dispersion of the data around the mean. Higher moments, like the third and fourth, provide insights into skewness and kurtosis, respectively. Skewness, represented by the third moment, indicates the asymmetry of the distribution, while kurtosis, the fourth moment, measures the "tailedness" or the presence of outliers. Together, these moments help statisticians and researchers understand and summarize data effectively.