What's the difference between an outlier and a leverage point in regression?

Most likely you'll have been introduced to outliers before points of leverage. Here, in pictures, I point out what the differences between an outlier and point of leverage. I make a distinction between good and bad leverage points. After this vid, it'll all be clear to you. Surely it's worth 5mins of your life? You'll need to know these concepts before modelling in SPSS/PASW, Stata, SAS, R, Eviews, Minitab, Excel - whatever it is you use.

[@maryannconsigo2259]

you're better than my statistic teacher.

[@Alonso_Cid]

Thanks, great explanation

[@thoyo]

thanks, quick explanation ended all doubts :)

[@LuisSiles]

I think "good" is a not influential point, and "bad" is a influential point.

[@christieseoyounahn]

thank you very much . your explanation is really easy to understand

[@liam898]

Good explanation but OMG was this recorded with ASMR microphone? So many mouth noises.

[@prinxegupta]

Got my cinfusion cleared here!

[@eatburgerwithafork]

Thanks dude

[@chacmool2581]

An outlier is far away from the mean|median. A leverage point is far from the mean|median and far from the regression line.