An Observation So Different in Magnitude from the Rest of the Observations

question 38

True/False

An observation so different in magnitude from the rest of the observations that the analyst chooses to treat it as a special case is called an outlier.

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Definitions:

Online Form

An online form is a digital document designed to collect data from users over the internet, often used for registrations, surveys, or transactions.

Onscreen Forms

Digital versions of forms that can be filled out directly on a computer or mobile device screen.

Vendor Transactions

Financial exchanges or dealings that occur between a business and its suppliers or service providers.

Expense

Money spent or cost incurred in an organization's efforts to generate revenue, representing the cost of doing business.