Outliers are common in some types of variables, an example discussed was the income variable in an online survey. Imagine you have conducted a survey on shopping habits, and receive 1,000 responses. One of your variables is a question on income. The vast majority of people respond with an income of 50k200k per year. 5 individuals respond with an income in the billions. What should you do? It is certainly possible that my survey captured several billionaires, and the income value should not be changed. Impute/overide/fix that value using a mean or median