Truncated is an adjective that describes something that has been shortened in duration or extension. It is used to refer to something that has been cut off or shortened in some way. For example, a truncated picnic could be caused by a sudden downpour. In statistics, a truncated mean or trimmed mean is a measure of the central trend.
It involves calculating the mean after discarding a given percentage or fixed number of points at the high and low end of the probability distribution or sample. In other words, truncated means shortened, as if a portion had been cut off. The verb to truncate means to shorten something in this way. To truncate means to shorten something by removing part of it.