How Can Outliers Be Identified in a Data Set

question 73

Essay

How can outliers be identified in a data set?

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Definitions:

Consumer Behavior

The study of how individuals or groups select, purchase, use, and dispose of goods, services, ideas, or experiences.

Target Markets

Specific groups of potential customers that businesses aim to reach with their products, services, and marketing efforts.

Niche Marketing

A targeted marketing strategy that focuses on a specific segment of the market, catering to a unique demand or demographic.

Decision-Making Process

A series of steps that lead from identifying a problem or opportunity to making a choice among alternative courses of action.