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MODE – General Information

Some information is taken from wikipedia.

In statistics, the mode is the value that occurs most frequently in a data set or a probability distribution. Mode is the most common value obtained in a set of observations.  mean-mode approx 3(mean-median)

The mean, median and mode of a data set are collectively known as measures of central tendency as these three measures focus on where the data is centred or clustered.  To analyse data using the mean, median and mode, we need to use the most appropriate measure of central tendency.  The following points should be remembered:

  • The mean is useful for predicting future results when there are no extreme values in the data set.  However, the impact of extreme values on the mean may be important and should be considered.  E.g. The impact of a stock market crash on average investment returns.
  • The median may be more useful than the mean when there are extreme values in the data set as it is not affected by the extreme values.
  • The mode is useful when the most common item, characteristic or value of a data set is required.

13, 18, 13, 14, 13, 16, 14, 21, 13        The mode is 13, because it is repeated more often than others.

 

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  1. December 19, 2011 at 11:36

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