What concept refers to data points that are significantly higher or lower than the rest of the dataset?

The concept of outliers refers to data points that are significantly higher or lower than the rest of the dataset. Outliers can skew the results of statistical analyses, as they may not represent the typical behavior or characteristics of the data being studied. Identifying outliers is crucial because they can provide valuable insights, indicate variability in the data, or signal errors in data collection or processing.

In contrast, the mean represents the average of a set of data points but does not specifically address the presence of unusually high or low values. Trends refer to the general direction in which data points move over time, and variables are the measurable traits or qualities that can change within a dataset. Understanding outliers is important for effective data analysis, as they can affect interpretations and decisions made based on the data.