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Outliers
Outliers are data points that differ significantly from other observations, often lying far outside the majority of a data distribution.
Parameter
A numeric characteristic that describes and summarizes an entire population of data.
Statistic
A characteristic or measure obtained from a sample of data, used to estimate the value of a population parameter.
Variance
A measure of how spread out a set of data is, calculated as the average of the squared differences from the Mean.
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