Winsorising
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High Quality Content by WIKIPEDIA articles! Note that Winsorizing is not equivalent to simply excluding data, which is a simpler procedure, called trimming. In a trimmed estimator, the extreme values are discarded; in a Winsorized estimator, the extreme values are instead replaced by certain percentiles (the trimmed minimum and maximum). For example, a Winsorized mean is not the same as a truncated mean: the 5% trimmed mean is the average of the 5th to 95th percentile of the data, while the 90% Winsorised mean sets the bottom 5% to the 5th percentile, the top 5% to the 95th percentile, and the...
High Quality Content by WIKIPEDIA articles! Note that Winsorizing is not equivalent to simply excluding data, which is a simpler procedure, called trimming. In a trimmed estimator, the extreme values are discarded; in a Winsorized estimator, the extreme values are instead replaced by certain percentiles (the trimmed minimum and maximum). For example, a Winsorized mean is not the same as a truncated mean: the 5% trimmed mean is the average of the 5th to 95th percentile of the data, while the 90% Winsorised mean sets the bottom 5% to the 5th percentile, the top 5% to the 95th percentile, and then averages the data. More formally, they are distinct because the order statistics are not independent.
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