Mode, Applied Statistics

Assignment Help:

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.


Related Discussions:- Mode

How many possible latin square designs are there, In an agricultural experi...

In an agricultural experiment, we wish to compare the yields of three different varieties of wheat. Call these varieties A, B and C. We have a ?eld that has been marked into a 3 *

Determine probability that the person tested has the disease, There are two...

There are two diagnostic tests for a disease. Among those who have the disease, 10% give negative results on the first test, and independently of this, 5% give negative results on

Latin Square design, what is the the Latin Square design? What is its appli...

what is the the Latin Square design? What is its application in research? please explain this term with very simple but with detailed explanation for effective understanding. I hav

Chi-square test, Consider the following linear regression model:      a)...

Consider the following linear regression model:      a) What does y and x 1 , x 2 , . . . . x k represent?      b) What does β o , β 1 , β 2 , . . . . β k represent?

Business statistics, Betting on sporting events is big business both in the...

Betting on sporting events is big business both in the US and abroad. Consider, for instance, next winter’s American football tournament known as the Superbowl. Billions of dollars

Confirmatory factor analysis, Confirmatory factor analysis (CFA) seeks to d...

Confirmatory factor analysis (CFA) seeks to determine whether the number of factors and the loadings of measured (indicator) variables on them conform to what is expected on the ba

Sample, You want to know the thoughts of air travelers in fields such as ti...

You want to know the thoughts of air travelers in fields such as tickets, comffort, safety, securuty, services and economic growth. You are given a database and 20 questions to ask

Correlation - cause and effect, Cause and Effect Even a highly signifi...

Cause and Effect Even a highly significant correlation does not necessarily mean that a cause and effect relationship exists between the two variables. Thus, correlation does

Stream flow gauging, (a) At a stream gauging station, the following dischar...

(a) At a stream gauging station, the following discharges and stage measurements were taken for the purpose of the rating curve at that section: Stage (m) 1

Cluster analysis, These techniques are applied when the rows and the column...

These techniques are applied when the rows and the columns of the data table represent the same units and when the measure is a disiance or a similarity. The goal of the analysis i

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