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Quotes of the day:
Know\'st thou the land where the lemon-trees bloom, Where the gold orange glows in the deep thicket\'s gloom, Where a wind ever soft from the blue heaven blows, And the groves are of laurel and myrtle and rose
A trimmed mean (similar to an adjusted mean) is a method of averaging that removes a small designated percentage of the largest and smallest values before calculating the mean. After removing the specified outlier observations, the trimmed mean is found using a standard arithmetic averaging formula. The use of a trimmed mean helps eliminate the influence of outliers or data points on the tails that may unfairly affect the traditional mean.
Stats 3: Trimmed Mean
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