For the "interpretations" part of your question, I use the mean and standard deviation to identify thresholds for univariate outliers.
For samples < 500, outliers are values that exceed [mean + or - 1.96 standard deviations]. This is equivalent to a 95% confidence interval.
If 500 < n < 5,000, [mean + or - 2.576 standard deviations]... 99% CI.
For n > 5,000, [mean + or - 3.291 standard deviations]... 99.9% CI.
For multivariate outliers, I look at Cook's D & DFFits most often.
Good luck,
Parker
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