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
what are characteristics of a population for which it would be appropiate to use mean/median/mode

Discriminant analysis (DA) helps to determine which variables discriminate between two or more naturally occurring groups. Mathematically equivalent to MANOVA, it ' is extensively

The calculations of arithmetic mean may be simple and foolproof, but the application of the result may not be so foolproof. An arithmetic mean may not merely lack

in a normal distribution with a mean of 85 and a STD of 5, what is the percentage of scores between 75 and 90?

The Null Hypothesis - H0:  The random errors will be normally distributed The Alternative Hypothesis - H1:  The random errors are not normally distributed Reject H0: when P-v

Let X 1  and X 2  be two independent populations with population means μ 1  and  μ 2  respectively. Two samples are taken, one from each population, of sizes n 1  and n 2  re

Your employer, Quick Hit Agency (QHA), is a debt collections agency. The company specializes in collecting small accounts. QHA does not deal in large accounts and does not take on

Root Mean Square Deviation The standard deviation is also called the ROOT MEAN SQUARE DEVIATION. This is because it is the ROOT (Step 4) of the MEAN (Step 3) o

how to get statistical quality control assignment in brief?

i am new to stata and i am trying to figure out how to calculate expected growth of sales tax revenue as well as average growth rate of sales tax revenue in stata. I have a dataset