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Generally not without further reason. Extreme values are often called outliers. Eliminating unusually high values will lower the standard deviation. You may want to calculate standard deviations with and without the extreme values to identify their impact on calculations. See related link for additional discussion.
RangeAdvantage - Shows the spread of the resultsDisadvantage - Does not take into account any 'clustering' of results in a set of data.- It is affected strongly by outliers (very high or very low results).ModeAdvantage - Shows the most popular result for non-numerical dataDisadvantage - Does not always give one value, it is not unique- It can only be used on a set of data where one or more values are repeated.MedianAdvantage - Extreme values do not affect the median as strongly as they do the mean- Useful when comparing sets of data- It is uniqueDisadvantage - It does not take into account the spread of results or show clustering of data, much like the range.Interquartile RangeAdvantages - Ignores extreme values- easier to use than the range when comparing data.Disadvantages - Er, I'll get back to you on that. Maybe the IQR has no flaws?
The larger the value of the standard deviation, the more the data values are scattered and the less accurate any results are likely to be.
I've used the quadratic formula in tuning software in High Performance automobiles. I had to input data into excel, then the program shot out the values in the quad for the tuning software to decipher what the voltage values of the input corresponded to AFR value (the values I put in). It was quite accurate. That's the only cool and practical application I have found so far in my line of work.
What is important is not high interest rates but high real interest rates: that is, interest rates adjusted for inflation.If a currency has high real interest rates, foreign investors will want to buy into that currency. The increased demand will push up the price of that currency relative to other currencies and so its exchange rate will "improve".
No, extremely high or low values will not affect the median. Because the median is the middle number of a series of numbers arranged from low to high, extreme values would only serve as the end markers of the values.
Danze16
Values that are either extremely high or low in a data set are called 'outliers'. They are typically 3 standard deviations or more from the mean.
Outlier
RangeAdvantage - Shows the spread of the resultsDisadvantage - Does not take into account any 'clustering' of results in a set of data.- It is affected strongly by outliers (very high or very low results).ModeAdvantage - Shows the most popular result for non-numerical dataDisadvantage - Does not always give one value, it is not unique- It can only be used on a set of data where one or more values are repeated.MedianAdvantage - Extreme values do not affect the median as strongly as they do the mean- Useful when comparing sets of data- It is uniqueDisadvantage - It does not take into account the spread of results or show clustering of data, much like the range.Interquartile RangeAdvantages - Ignores extreme values- easier to use than the range when comparing data.Disadvantages - Er, I'll get back to you on that. Maybe the IQR has no flaws?
Generally not without further reason. Extreme values are often called outliers. Eliminating unusually high values will lower the standard deviation. You may want to calculate standard deviations with and without the extreme values to identify their impact on calculations. See related link for additional discussion.
It ignores much of the available data by concentrating on only the extreme points.
The median is least affected by an extreme outlier. Mean and standard deviation ARE affected by extreme outliers.
There really isn't a rigorous definition, except that they are beyond the usual range of the data. To some it may be a value (or range of values) that could occur 1:50 times, to others it might be 1:1000 or 1:10000 times. It may be a very high number or a very low number, but it must be a number whose occurrence is rare.
The larger the value of the standard deviation, the more the data values are scattered and the less accurate any results are likely to be.
It affects the internal structure of main-sequence stars because they have very high central temperatures for the extreme temperature sensitivity of the CNO cycle to fuse hydrogen into helium.
No, extremely low or high values are affected by the mean.