Because They Represent Such Extreme Values,outliers Should Always Be Eliminated

question 47

True/False

Because they represent such extreme values,outliers should always be eliminated from statistical analyses.

Understand that law serves multiple functions including flexibility, adaptability, and social control.

Identify the primary sources of law and their development in the U.S. legal system.

Distinguish between different classifications of the law and their significance.

Recognize the supremacy of federal statutes over state laws as per the U.S. Constitution.

---

Definitions:

Economic Models

Simplified representations of complex economic processes, used to predict future economic events or understand economic dynamics through mathematical or computational simulations.

Mortgage-Backed Security

A type of asset-backed security that is secured by a mortgage or collection of mortgages.

Home Loans

Loans offered by financial institutions to individuals for the purchase of homes, typically secured by the property itself.

Economic Model

A simplified representation of economic processes, used to analyze and predict economic behaviors.