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

Published 29 Dec 2016 in math.PR, math.ST, and stat.TH | (1612.09265v1)

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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