Question: What should we do with outliers? In this chapter, we learned about outliers, which are extreme values of a variable. It is tempting to discard

What should we do with outliers? In this chapter, we learned about outliers, which are extreme values of a variable. It is tempting to discard unusual data points. Discarding an outlier would be reasonable only if we have reason to suppose the data value is erroneous. (e.g. a blood pressure reading of 1200/80 seems impossible and is probably supposed to be 120/80). While an outrageous observation may be invalid, how do we guard against self-deception? What if that weird observation

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!