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In other words, outliers are those data points that lie outside the overall pattern of distribution as shown in figure below. The easiest way to detect outliers is to create a graph. Plots such as Box Plots, Scatterplots and Histograms can help to detect outliers. Alternatively, we can use mean and standard deviation to list out the outliers.
where x takes on each value in the set, x is the average (statistical mean) of the set of values, and n is the number of values in the set.. If your data set is a sample of a population, (rather than an entire population), you should use the slightly modified form of the Standard Deviation, known as the Sample Standard Deviation.
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1. Calculate descriptor values. Raw values of each descriptor going into the factor are calculated. 2. Drop extreme outliers and winsorize1 the remaining values to be within three standard deviations from the mean. 3. Standardize the raw descriptor values, so that each descriptor has a market-cap-weighted mean of zero and unit standard deviation.
2 days ago · A read-only property for the standard deviation of a normal distribution. variance¶ A read-only property for the variance of a normal distribution. Equal to the square of the standard deviation. classmethod from_samples (data) ¶ Makes a normal distribution instance with mu and sigma parameters estimated from the data using fmean() and stdev().
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Outlier definition, something that lies outside the main body or group that it is a part of, as a cow far from the rest of the herd, or a distant island belonging to a cluster of islands: The small factory was an outlier, and unproductive, so the corporation sold it off to private owners who were able to make it profitable.
By Deborah J. Rumsey . Standard deviation can be difficult to interpret as a single number on its own. Basically, a small standard deviation means that the values in a statistical data set are close to the mean of the data set, on average, and a large standard deviation means that the values in the data set are farther away from the mean, on average.