Answer :
Final answer:
An outlier in data analysis is a data point significantly different from others. The rule of thumb for evaluating outliers is based on standard deviations. Quartiles and percentiles are common tools for outlier identification.
Explanation:
An outlier in data analysis is a data point that significantly differs from other data points, potentially indicating errors or abnormalities in the data.
To evaluate if a given value is an outlier, a rule of thumb in regression analysis is that a point more than two standard deviations from its predicted value on the regression line is considered an outlier.
Quartiles and percentiles are commonly used methods to identify outliers by dividing the data into intervals and determining extreme values.
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