What is the difference between an outlier and a serious outlier in Statistics?

One type of investment's Lower Inner Fence (LIF) is 1.6875 and its Upper Inner Fence (UIF) is 5.3875.





Also, its Lower Outer Fence is 0.3 and Upper Outer Fence is 6.775.





Is the yield of 1.55 and outlier? or a serious outlier? please explain the answer if you know!! Thanks a lot.

What is the difference between an outlier and a serious outlier in Statistics?
ANSWER: YEILD OF 1.55 is neither a "outlier" or a "serious outlier".





Why???





A YEILD (observation) is an "outlier" (candidate) if it lies outside the interval (Q1 - 1.5 IQR, Q3 + 1.5 IQR)[Lower Inner Fence, Upper Inner Fence].





A YEILD (observation) is a "serious outlier" if it lies outside the BOX PLOT interval (Q1 - 3 IQR, Q3 + IQR) [Lower Outer Fence, Upper Outer Fence].





YEILD of 1.55 is not outside either of the intervals. YIELD of 1.55 is inside both of the intervals.