Advantages of mode, Applied Statistics

Assignment Help:

Advantages

  1. 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.
  2. 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.
  3. Its value can be determined in open-end distributions without ascertaining the class limits.
  4. 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.
  5. The value of mode can also be determined graphically, whereas the value of mean cannot be graphically ascertained.


Related Discussions:- Advantages of mode

Calculate the mle estimate for mean, Each section of the SAT test is suppos...

Each section of the SAT test is supposed to be distributed normally with a mean of 500 and a standard deviation of 100. Suppose 5 students in a class took the SAT math test. They r

Find relative maxima and minima, Q. Find relative maxima and minima? Wh...

Q. Find relative maxima and minima? When finding relative maxima and minima in the Chapters absolute extrema problem, don't forget to use the first or second derivative test to

Find the probability that a lift will weigh, Lifts usually have signs indic...

Lifts usually have signs indicating their maximum capacity. Consider a sign in a lift that reads "maximum capacity 1400kg or 20 persons". Suppose that the weights of lift-users are

X-bar charts when the mean and standard deviation not known , Charts when t...

Charts when the Mean and the Standard Deviation are not known We consider the data corresponding to the example of Piston India Limited. Since we do not know population mean a

Residual, regression line drawn as Y=C+1075x, when x was 2, and y was 239, ...

regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual

Case # 2 , Case Problem: A Bipartisan Agenda for Change In a study conducte...

Case Problem: A Bipartisan Agenda for Change In a study conducted by Zogby International, more than 700 New Yorkers were polled to determine whether the New York state government w

Linear programming problem, Melissa Bakery is preparing for the coming than...

Melissa Bakery is preparing for the coming thanksgiving festival. The bakery plans to bake and sell its favourite cookies; butter cookies, chocolate cookies and almond cookies. A k

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

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd