Outliers as a concept

[Pranjali Srivastava]

Hello,

The formula of how to find the Outliers in any data has been shared in the tutorial but could you explain what outliers actually mean as a concept in a dataset like the professor talked about it in the lectures about how some things are sensitive to outliers and some are not. Could the concept of outliers in a dataset as in what it is, be explained instead of how to just calculate it?

Thank you.

[Statistics 1 Support 1]

Hi,

For example, I have collected 100 lottery tickets for 100 days.

I have got 0 rupees for first 99 days and on one day I got 1 lakh rupees.

Then the mean of of 99 days is 0 and if you add 1 lakh in the data, mean changes drastically.

Hence, 1 lakh rupees is outlier to the given dataset.

I hope now you will understand.

Regards,

Mayur,

Course content support team,

IITM Onlinedegree