I am not able to distinguish the outliers - When to go with std. dev and When do we need to go with Median. My understanding on std. dev. is - if the data is away from mean by more than 2 std dev. we consider that as outlier. Similarly for Median, we say that any data that is not in-between q1 and q3, we say again that as outlier.
So am confused which one to choose.
Can you guys help me understand.