Does the Presence of an Outlier in Your Data Set

question 105

Essay

Does the presence of an outlier in your data set necessarily mean that you cannot use the normal model to interpret the data? Explain.

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Definitions:

Manager

An individual responsible for controlling or administering all or part of a company or similar organization.

Contracts

Legal agreements between two or more parties that are enforceable by law.

Unauthorized Acts

Actions taken without the necessary permission or authority, often violating agreements or laws.

Principal

The main party to a transaction or contract who has authorized another (an agent) to act on their behalf, or the primary sum of money owed on a loan, excluding interest.