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

Heteroskedastic-consistent standard errors, The following table shows the r...

The following table shows the results of fitting a linear regression model of starting annual salaries on a constant, GPA (4 point scale), and a variable (Metrics =1) indicating wh

#title., Features of index numbers

Features of index numbers

Quartiles, Related Positional Measures Besides median, there are other ...

Related Positional Measures Besides median, there are other measures which divide a series into equal parts. Important amongst these are quartiles, deciles and percentiles.

Probability, HOW WOULD YOU INTERPRET THIS PROBABILITY:P(a)=1.05

HOW WOULD YOU INTERPRET THIS PROBABILITY:P(a)=1.05

Utility index , If the economy does well, the investor's wealth is 2 and if...

If the economy does well, the investor's wealth is 2 and if the economy does poorly the investor's wealth is 1. Both outcomes are equally likely. The investor is offered to invest

Initial centroids data set, Find unlabeled data set test.txt and initial ...

Find unlabeled data set test.txt and initial centroids data set centroids.txt in the archive, both files have the following format: [attribute1_value attribute2_value ...

Methods of forecasting, Methods of Forecasting  Various techniques whic...

Methods of Forecasting  Various techniques which are generally used in business forecasting are as under: 1.      Forecasting  through the opinion of heads  of department

Find the conditional distribution of turning diameter, 1. Assume the random...

1. Assume the random vector (Trunk Space, Length, Turning diameter) of Japanese car is normally distributed and the unbiased estimators for its mean and variance are the truth. For

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