Exploring Outliers in Data Analysis
Understanding Outliers in Data Analysis
When a data analyst notices a data point that is very different from the norm in a scatter plot, the best course of action is to carefully examine the outlier. The outlier needs to be scrutinized to ascertain if it is a result of inaccurate data or if it holds significant information about the population under study.
The Role of Outliers in Data Analysis
Outliers in a data analysis should be carefully examined. They may indicate errors or valuable information about the studied population. Similarly, influential points, which have a great effect on the slope of the regression line, should be identified and assessed for their impact.
Identifying Outliers and Influential Points
Beyond outliers, influential points are also a consideration. They are data points that are far from others horizontally and can significantly influence the slope of the best-fit line. You can identify influential points and assess their impact by removing them from the data set and observing if the slope of the regression line changes dramatically.