I\'d like to replace all values in my relatively large R dataset which take values above the 95th and below the 5th percentile, with those percentile values
You can do it in one line of code using squish():
d2 <- squish(d, quantile(d, c(.05, .95)))
In the scales library, look at ?squish and ?discard
#--------------------------------
library(scales)
pr <- .95
q <- quantile(d, c(1-pr, pr))
d2 <- squish(d, q)
#---------------------------------
# Note: depending on your needs, you may want to round off the quantile, ie:
q <- round(quantile(d, c(1-pr, pr)))
example:
d <- 1:20
d
# [1] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
d2 <- squish(d, round(quantile(d, c(.05, .95))))
d2
# [1] 2 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 19