👉 Outliers are values that fall outside of a normal distribution or a specific range. They can be caused by various factors such as extreme values, extreme changes in data, or statistical anomalies. In statistics and econometrics, outliers are often used to identify and analyze patterns in data that may not fit the general trend of the dataset. For example, if you have a set of data points with very high or low values, these can be considered outliers because they fall outside of a normal distribution. Outliers
