Outliers, the Law of Large Numbers, Index of Stability and Heavy Tails

2016/12/29 by Klebanov, Lev B., Kakosyan, Ashot V., Karlova, Andrea
#FOS: Mathematics #Probability (math.PR) #Statistics Theory (math.ST)

paper · doi:10.48550/arxiv.1612.09265

Abstract

We are trying to give a mathematically correct definition of outliers. Our approach is based on the distance between two last order statistics and appears to be connected to the law of large numbers. Key words: outliers, law of large numbers, heavy tails, stability index.

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