Econometrics Terminology

1 words in this vocabulary list

verb to winsorize means to adjust a data set by limiting extreme values to reduce the impact of outliers

  • In statistical analysis, one common technique is to winsorize the data to remove extreme outliers.
  • When cleaning up the data, we can winsorize the outliers to get a more accurate picture.
  • Let's winsorize the data so we can get rid of those crazy outliers.
  • Just like trimming the edges of a picture, winsorizing helps to clean up the data.