Outlier Detection: What You Need to Know

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Decisions are usually based on the sample mean, which is very sensitive to outliers and can dramatically change the value. So, it is crucial to manage outliers

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Analysts often encounter outliers in data during their work. Decisions are usually based on the sample mean, which is very sensitive to outliers. It is crucial to manage outliers to make the correct decision. Let's consider several simple and fast approaches for working with unusual values.