menu. And I'm not sure that creation of a (possibly large) set of
single-observation dummies is very helpful to the GUI user. Might
it not be more helpful to offer something under Edit/Modify model,
along the lines of "Exclude observations with residuals greater
than <select N> * sigma in absolute value"?
The value 2.2 is taken from N(0,1): this is approx two-tailed 3%
(exact value is 2.17). But in GUI there could be - instead of
critical value - \alpha and critical taken from N(0,1). The idea is
not excluding obs (which would be interesting) but creating dummies
for i.e. looking for structural breaks or just shocks.