Mode

The mode is the value which occurs most frequently in a set of observations on the point of maximum frequency and around which other items of the set cluster densely.

Example 

The following data relates to the share price quotations of Reality Industries Ltd. quoted in the first fortnight of July, 20x1.

189, 197.50, 193.75, 188.75, 193.75, 217.50, 207.50, 193.75, 210.50, 193.75, 182.50, 183.75, 191.25, 193.75, 188.75

Let us calculate the mode for the above data.

Price quotation (Rs.)	No. of times it occurs
189.00	1
197.50	1
193.75	5
188.75	2
217.50	1
207.50	1
210.50	1
182.50	1
183.75	1
191.25	1
Total	15

Since the share price 193.75 has occurred maximum number of times, the mode is 193.75.

Thus, the process of determining mode in case of individual observations essentially involves grouping of data.

Posted Date: 9/14/2012 2:12:05 AM | Location : United States

Ask an Expert

Related Discussions:- Mode, Assignment Help, Ask Question on Mode, Get Answer, Expert's Help, Mode Discussions

Write discussion on Mode
Your posts are moderated

Write your message here..

Related Questions

Perform a simple linear regression analysis, In New Jersey, banks have been... In New Jersey, banks have been charged with withdrawing from counties having a high percentage of minorities. To substantiate this charge, data is presented in the table below conc

#title., 1 Se toma una muestra de 81 observaciones con una desviación están... 1 Se toma una muestra de 81 observaciones con una desviación estándar de 5. La media de la muestra es de 40. Determine el intervalo de de confianza de 99% para la media

Correlation, Correlation The correlation is commonly used and a useful... Correlation The correlation is commonly used and a useful statistic used to describe the degree of the relationships between two or more variables. Pearson's correlation refle

Evaluation tracking system, BCBSRI was able to reduce MSD related Workers C... BCBSRI was able to reduce MSD related Workers Compensation cases with lost workdays by implementing a New Ergonomic Program in March 2000 and increasing workstation evaluations. Ex

Ogive graphs, how many types of ogive are there how many types of ogive are there

#vital statistics, # I have to make assignment on vital statistics so kindl... # I have to make assignment on vital statistics so kindly guide me how to make and get good marks

Type of variable in regression analysis, Type of Variable in Regression Ana... Type of Variable in Regression Analysis There are two types of variable in regression analysis. These are: a.      Dependent variable b.      Independent variable

Mathematical properties of arithmetic mean, Mathematical Properties ... Mathematical Properties The sum of deviations of the items from the arithmetic mean (taking signs into account) is always zero, i.e.      = 0. The sum of

Two-tailed and one-tailed tests, If the test is two-tailed, H1:  μ ≠  μ 0  ... If the test is two-tailed, H1:  μ ≠  μ 0  then the test is called two-tailed test and in such a case the critical region lies in both the right and left tails of the sampling distr

Find the mean and standard deviation, Problem : A company supplying ele... Problem : A company supplying electrical products, places a rush order for electric wires. Consignments of wires are to be sent immediately when they are available. Previous