One definition of "far away" in this context is:
These values define the so-called inner fences, beyond which an observation would be labeled a mild outlier.
Extreme outliers are observations that are beyond the outer fences:
In the case of normally distributed data, using the above definitions, only about 1 in 150 observations will be a mild outlier and only about 1 in 425,000 an extreme outlier.
Outliers usually demand special attention since they may indicate problems in sampling or data collection or transcription. Alternatively, an outlier could be the result of, for example, a truly unusual response to a given treatment, calling for further investigation by the researcher.
See also: box plot
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