Hi Pawel,
I understand that you want to limit the effects of extreme data observations using z-scores.
Setting the z-scores less than -3 to -3 and z-scores greater than +3 to +3, we can limit the effects of extreme observations and obtain corresponding adjusted data points that are within the desired range. The following MATLAB code shows how to do the same:
clear;
clc;
% Example dataset
data = [10, 12, 15, 20, 25, 35, 40, 41, 42, 44, 500];
% Calculate mean and standard deviation
meanValue = mean(data);
stdValue = std(data);
% Compute z-scores
zScores = (data - meanValue) / stdValue
% Limit extreme z-scores
zScores(zScores < -3) = -3;
zScores(zScores > 3) = 3;
% Apply adjusted z-scores to original data points
adjustedData = meanValue + zScores * stdValue
You can also refer to the following documentation on 'Standardized z-scores' to make use of the inbuilt 'zscore' function.
Hope this helps.
