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

Sequential sampling, Sequential Sampling Under this method, a number of...

Sequential Sampling Under this method, a number of sample lots are drawn one after another from a universe depending on the results of the earlier samples. Such sampling is gen

Statistical procedures - estimation of a mean, Old Faithful Geyser in Yello...

Old Faithful Geyser in Yellowstone National Park derives its names and fame from the regularity (and beauty) of its eruptions. Rangers usually post the predicted times of eruptions

Compare the t interval with the bootstrap interval, Jocko's Garage has been...

Jocko's Garage has been accused of insurance fraud. Data on estimates made by Jocko and another garage were obtained for 10 damaged vehicles (available in 'jockogarage.txt'). Here

Regression analysis , The data used is from a statistical software Minitab;...

The data used is from a statistical software Minitab; London.MPJ is the file that consists of 1519 households drawn from 1980 - 1982 British Family Expenditure Surveys. Data that i

Andrews ‘plots, Andrews ‘Plots A graphical display of multivariate da...

Andrews ‘Plots A graphical display of multivariate data in which an observation, x0 = [x1, x2, . . . , xq] is represented can be represented in the form of function A set

Test the null hypothesis, A consumer preference study involving three diffe...

A consumer preference study involving three different bottle designs (A, B, and C) for the jumbo size of a new liquid detergent was carried out using a randomized block experimenta

Optimal number of cluster, Try different numbers of clusters in your progra...

Try different numbers of clusters in your program (K=2...15) and build a plot that shows the dependency between number K and value of RSS function on the last iteration. What is th

Redundancy analysis, In reduced rank regression (RRR), the dependent var...

In reduced rank regression (RRR), the dependent variables are first submitted to a PCA and the scores of the units are then used as dependent variables in a series of

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