Login

Create Account
+14156709189
info@expertsmind.com
Submit Homework/Assignment
Get quote & make Payment
Get Solution
Advantages of mode, Applied Statistics
Advantages
By definition, mode is the most typical or representative value of a distribution. Hence, when we talk of modal wage, modal size of shoe or modal size of family it is this average that we refer to. The mode is a measure which actually does indicate what many people incorrectly believe the arithmetic mean indicates. The mode is the most frequently occurring value. If the modal wage in a factory is Rs.2,000 then more workers receive Rs.2,000 than any other wage. This is what many believe the “average” wage always indicates, but actually such a meaning is indicated only if the average used is the mode.
It is not affected by extremely large or small items. For example, the mode of values 1, 4, 4 and 10 is 4 and the mode of values 1, 4, 4 and 1,000 is also 4.
Its value can be determined in openend distributions without ascertaining the class limits.
It can be used to describe qualitative phenomenon. For example, if we want to compare the consumer preferences for different types of products, say, soap, toothpastes, etc. or different media of advertising we should complete the modal preferences expressed by different groups of people.
The value of mode can also be determined graphically, whereas the value of mean cannot be graphically ascertained.
Posted Date: 9/14/2012 2:20:41 AM  Location : United States
Ask an Expert
Related Discussions:
Advantages of mode, Assignment Help, Ask Question on Advantages of mode, Get Answer, Expert's Help, Advantages of mode Discussions
Write discussion on Advantages of mode
Your posts are moderated
Write your message here..
Related Questions
Index number of price for paasche’s method, Construct index numbers of pri...
Construct index numbers of price for the following data by applying: i) Laspeyre’s method ii) Paasche’s method iii) Fisher’s Ideal Index number
Disadvantages of median, Disadvantages For calculating median it is ...
Disadvantages For calculating median it is necessary to arrange the data; other averages do not need any arrangement. Since it is a positional average, its value is not d
Utility function, The decision maker ranks lotteries according to the utili...
The decision maker ranks lotteries according to the utility function (i) State the independence assumption. Does this decision maker satisfy it? (ii) Is this decision ma
Theoretical yield and actual yield, Write down the symbols and unit for the...
Write down the symbols and unit for the following: mass, molar mass, molar and molarity Write down the relationship between mass and molar mass and show that the units match.
Probability, Replacement times for CD players are normally distributed with...
Replacement times for CD players are normally distributed with a mean of 7.1 years and standard deviation of 1.4years. Find the probability that a randomly selected CD player will
Production took place, Scenario: To fundraise for middle school camp the ye...
Scenario: To fundraise for middle school camp the year 3 and 4 syndicate designed and produced chocolate treats to sell to the year 1 and 2, and year 5 and 6 students at morning te
Evaluate the probability, "MagTek" electronics has developed a smart phone ...
"MagTek" electronics has developed a smart phone that does things that no other phone yetreleased into the marketplace will do. The marketing department is planning to demonstrate
Show a simple linear regression analysis, In the early 1990s researchers at...
In the early 1990s researchers at The Ohio State University studied consumer ratings of six fastfood restaurants: Borden Burger, Hardee's, Burger King, McDonald's, Wendy's, and Wh
Stat, solve problems
solve problems
Simple linear regression, We are interested in assessing the effects of tem...
We are interested in assessing the effects of temperature (low, medium, and high) and technical configuration on the amount of waste output for a manufacturing plant. Suppose that
Assignment Help
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
IT Courses and Help
ExpertsMind Services
Online Tutoring
Projects Assistance
Exam Preparation
Coursework Help
Programming Courses
Engineering Courses
Why Us ?
~Experienced Tutors
~24x7 hrs Support
~Plagiarism Free
~Quality of Work
~Time on Delivery
~Privacy of Work