I'm trying to determine the best method for narrowing down data to use in a program I'm writing. I could use some help.
Here is a use case... Sometimes we have bad data in our system and it can lead to making decisions off that data. For instance,
I might have 2-5 variables.
Data Set 1 2.50, 2.35, 0.25
Data Set 2 3.55, 2.25, 2.10
Option 1 I can use the high value, medium value, or the low value. In data set 1 it's obvious the low value is a mistake and data set 2 the high value should be ignored.
Option 2 If I use the average for data set 1 it comes out to 1.7 which will still be too low.
I know there has to be a good way to write a formula that can cancel out what data is an outlier.