Timestamps for your convenience:

0:47 Chance-to-Hit Overview
1:14 Hit Rate Formula
1:59 Fatigue Modifier
2:41 Hit Chance Formula
2:48 Target's Evasion Chance Formula

3:13 Damage Formula
3:27 Strength Modifier
4:26 Condition Modifier
4:44 Critical Hit Modifier or Sneak Attacks
5:16 Opponent's Armor Reduction Formula
My armor guide: https://youtu.be/0OLf7kDsKcU?list=PLobdprIgcqJ82TKnySC6yIzP9CO9ixyz_

5:59 Ranged Weapon Damage [SKIP TO HERE IF FAMILIAR WITH PREVIOUS CONCEPTS]
6:20 Bow and Arrow Damage
6:35 Displayed Link (note: this table only includes non-expansion items) http://www.uesp.net/wiki/Morrowind:Base_Weapons#Marksman_Weapons
7:29 Crossbows and Bolts Damage
8:10 Thrown Weapons Damage

8:43 Enchanting
8:50 Enchanting Thrown Weapons
9:18 Enchanting Arrows and Bolts
9:40 Enchanting Bows and Cross Bows

10:36 The Best Bows and Crossbows

11:15 Final Notes on Ammunition

Thanks for watching and hopefully you got something useful from this! I've got several other Morrowind video guides and more coming (as of this being posted). Check 'em out!