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
To use Linear Programming for solving the following inequalities. Following Twin Conditions (as mandated by the Indian Regulatory Authority) Twin Condition I for TV Broadcasters

just wondering what would be the cost to complete a stats assignment

types of sampling method

Read the “JET Copies” Case Problem on pages 678-679 of the text. Using simulation estimate the loss of revenue due to copier breakdown for one year, as follows: 1. In Excel, use a

how can i use continuous frailty in multi state models?

Define sampling unit and population for selecting a random sample in every case. a) 100 voters from a constituency b) 20 stocks of National Stock Exchange c) 50 account ho

a 100 squash balls are bounce from height of 100 inches with average height 30 inch with standard deviation 3/4 inch. a ball is fast if bounce above 32 inch. what is chance of gett

From the information given, what seems to be the main flaw in each of the following statistical generalisations? (i) Banking industry employees are facing a crisis, if their

Let X, Y, and Z refer to the three random variables. It is known that Var(X) = 4, Var(Y) = 9, and Var(Z) = 16. It is further known that E(X) = 1, E(Y) = 2, and E(Z) = 4. Furthermor

The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th