An outlier is an observation that lies an abnormal distance from other values in a random sample from a population,” advises the Engineering Statistics Handbook.

Z-score is a standard measurement used in statistical analysis that looks at data with a normal distribution. It provides a standard unit of measurement for placing your data on a common scale. It ...

Identifying outliers in a data set is conceptually cut and dry. Running the Grubbs test on the opposite extreme return - a near 49% loss - also finds no support for labeling the number an outlier ...