The Winsorized mean is a statistical measure that aims to reduce the influence of outliers in a dataset by limiting extreme values. It is a modified version of the arithmetic mean that replaces the smallest and largest values in the dataset with certain percentiles. In practice, the Winsorized mean is calculated by following these steps: 1. **Determine the Winsorizing proportion:** Decide what percentage of the data you want to Winsorize (e.g.
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