Mode, Applied Statistics

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







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

Write discussion on Mode
Your posts are moderated
Related Questions
The tension, T, in the tow rope pulling the car in Newtons is given in P8.  Determine the minimum length of the rope l, between A and B, so that the tension in either AB or AC equa

Need statistic assignment help. Need by Monday, 26Th May. Gretl has to be used compulsory.

The total number of overtime hours (in 1000s) worked in a large steel mill was recorded for 16 quarters, as shown below. Year Quarter Overtime hour

how to compute reliability coefficient for extracted factors in factor analysis?

Regression Lines It has already been discussed that there are two regression lines and they show mutual relationship between two variable . The regression line Yon X gives   th


Skewness Meaning and Definition  Literal meaning of skewness is lack of symmetry; it is a numerical measure which reveals asymmetry of a statistical series. According t

The quick method for a confidence interval for a proportion uses as an approximation for a 95% confidence interval.  The margin of error in this case is slightly larger tha

Suppose the money supply process is now represented by the following function: where m measures the sensitivity of money supply with respect to the interest rate. (i) Us