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

Simplex method, #questionMaximize Z= 3x1 + 2X2 Subject to the constraints: ...

#questionMaximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0..

Determine the closed loop speed transfer function, In the case of permanent...

In the case of permanent magnet DC motor whose stator consists of a permanent magnet we can take the field current to be constant (i.e. a constant magnetic field) and it can be sho

Disadvantages of median, Disadvantages For calculating median it is ...

Disadvantages For calculating median it is necessary to arrange the data; other averages do not need any arrangement. Since it is a positional average, its value is not d

Perform a one-way anova, The Tastee Bakery Company supplies a bakery produc...

The Tastee Bakery Company supplies a bakery product to many supermarkets in a metropolitan area. The company wishes to study the effect of shelf display height employed by the supe

Simple linear regression, We are interested in assessing the effects of tem...

We are interested in assessing the effects of temperature (low, medium, and high) and technical configuration on the amount of waste output for a manufacturing plant. Suppose that

Solve linear programming problem using the simplex method, Question: (a...

Question: (a) Shale Oil, located in the island of Aruba, has a capacity of 600,000 barrels of crude oil per day.  The final products from the refinery include two types of unle

Canonical correlation analysis, Canonical correlation analysis (CC) allows ...

Canonical correlation analysis (CC) allows the investigation of the relationship between two ,sets of variables. For example, a sociologist may want to investigate the Relationship

Probability distribution and sampling distribution , a 100 squash balls are...

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

Determine nash equilibria, Two students are sitting in a lecture and consid...

Two students are sitting in a lecture and considering whether to ask a question from the professor (both of them are considering the same question). If they both ask, the questi

Simple linear regression, We are interested in assessing the effects of tem...

We are interested in assessing the effects of temperature (low, medium, and high) and technical configuration on the amount of waste output for a manufacturing plant. Suppose that

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