Mode in Business Statistics
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The mode is the value that appears most frequently in a data set. It represents the peak of a distribution. There are several ways to calculate the mode depending on if the data is in an individual observation, discrete series, or continuous series. For a continuous series, the modal class is identified which has the highest frequency, and a formula is applied using the lower limit of that class, and the frequencies of the modal, preceding, and succeeding classes. Examples are provided to demonstrate calculating the mode for different data presentations.
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Here are the steps to solve this problem:
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0-1 8
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Merits and Demerits of Mode.
Mode is the value which occurs the maximum number of times in a series of observations and has the highest frequency.
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3. Calculation of mode in a continuous series (Grouped data)
4. Calculation of mode in a unequal class intervals (Grouped data)
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This document contains 7 examples of calculating measures of central tendency (mean, median, mode) from frequency distribution tables. For each example, it shows the frequency table data, the step-by-step working to calculate the measure of central tendency, and states the final value of the measure. It also includes one example of drawing a less than type ogive from income and number of workers data.
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This document discusses various measures of central tendency including the mean, median, and mode. It provides examples of how to calculate each measure using both raw data sets and frequency distributions. The mean is calculated by adding all values and dividing by the total number of cases. The median is the middle value when cases are arranged in order. The mode is the most frequent value. Limitations of each measure are also outlined, such as the mean being affected by outliers and the median requiring ordered data.
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This document provides instructions for a lesson on measures of central tendency. It begins by explaining that measures of central tendency include the mean, median, and mode, which are ways to describe the central or typical value in a data set. The objectives are given as helping students develop an understanding of these concepts. Examples and calculations are provided to illustrate finding the mean, median, and mode. Exercises in the form of multiple choice questions test the understanding of calculating and identifying the measures of central tendency.
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This document discusses measures of central tendency including the mean, mode, and median. It provides definitions and formulas for calculating each measure using both ungrouped and grouped data. The mean is the sum of all values divided by the total number of items. The mode is the most frequently occurring value. The median is the middle value when data is arranged from lowest to highest. Examples are given to demonstrate calculating each measure using both types of data arrangements.
Mode(biostatics)
This document provides an introduction and overview of the statistical concept of mode. It defines mode as the value with the highest frequency in a data set. It then discusses different methods for computing the mode of individual data series, discrete series, and grouped series. These include computing by inspection, making discrete/grouped series, and using the formula mode = 3(median) - 2(mean). The document notes advantages of mode include being easy to understand and not being affected by outliers. Disadvantages include mode sometimes being undefined or indeterminate and not using all data. Applications of mode include quick measurement and when data is categorical.
Calculation of Median
This power point explains the methods of median calculation in individual series, discrete series and continuous series.
Measures of central tendency
The document provides information about various measures of central tendency including arithmetic mean, median, mode, geometric mean, and harmonic mean. It defines each measure and provides examples of calculating them using data from frequency distributions. The arithmetic mean is the most common average and is calculated by summing all values and dividing by the total number of values. The median is the middle value when values are arranged in order. The mode is the most frequent value. The geometric mean is calculated by taking the nth root of the product of n values. The harmonic mean gives the greatest weight to the smallest values and is used to average rates.
Mode ppt
This document defines and provides examples for calculating the mode of data sets. It explains that the mode is the value that occurs most frequently in a data set. For ungrouped data, the mode is simply the value that repeats the most. For grouped data, formulas are provided to calculate the mode using the median, mean, class intervals and frequencies. Examples are given to demonstrate calculating the mode for grouped data. The document also lists some merits and shortcomings of the mode as a measure of central tendency.
Relationship among mean, median and mode
This document discusses the relationship between mean, median, and mode for different types of distributions. It provides formulas for relating these measures in moderately skewed distributions. An example is given of a symmetrical distribution where the mean, median, and mode are equal. The distribution's frequencies are used to calculate each measure and confirm the distribution is symmetrical since all three values are the same.
Median and mode
The median is the middle value when values are ordered from lowest to highest. It divides the data set such that half the values are lower than the median and half are higher. For an even number of values, the median is the average of the two middle values. The mode is the most frequently occurring value. It indicates the most common result. Both the median and mode are less influenced by outliers than the mean. They provide a more representative central value for skewed or irregularly distributed data sets.
Module 3 statistics
This module discusses measures of variability such as range and standard deviation. It provides examples of computing the range of various data sets as the difference between the highest and lowest values. Standard deviation is introduced as a more reliable measure that considers how far all values are from the mean. Students learn to calculate standard deviation by finding the deviation of each value from the mean, squaring the deviations, taking the average of the squared deviations, and extracting the square root. They practice computing and interpreting the range and standard deviation of sample data sets.
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Mode in Business Statistics
- 2. MODE The mode is the number that appears most frequently in a data set It is an actual value, which has the highest concentration of items in and around it. For example, in placing an order for shoes or ready-made garments the modal size helps because this sizes and other sizes around in common demand.
- 3. Mode is 6
- 4. Formula Individual observation: For ungrouped data or a series of individual observations, mode is often found by mere Discrete Series: For Discrete distribution, see the highest frequency and corresponding value of X is mode.
- 5. Formula Continuous Series: See the highest frequency then the corresponding value of class interval is called the modal class. apply the formula. Mode = Mo =𝒍 + 𝚫𝟏 𝚫𝟏+𝚫𝟐 ∗ 𝒄 l = Lower limit of the model class Δ1= f1-f0 Δ2 = f1-f2 f1 = = frequency of the modal class f0 = frequency of the class the modal class f2 = frequency of the class succeeding the class
- 6. Illustration _Individual Observation 2 , 7, 10, 15, 10, 17, 8, 10, 2 Mode = M0=10 In some cases the mode may be absent while in some cases there may be more than one mode. 12, 10, 15, 24, 30 (no mode) 7, 10, 15, 12, 7, 14, 24, 10, 7, 20, 10 The modes are 7 and 10
- 7. Illustration _Discrete Series From the following data, find the value of Mode The Mode is 5380 because Rs. 5380 have high frequency Income 4000 4500 5060 5380 5800 6600 No. of Person 24 26 20 30 16 6
- 8. Illustration _Discrete Series 1. The following data pertaining to the number of members in a family. Find mode size of the family. The Mode size of family is 6 because 6 have high frequency No. of family numb er 1 2 3 4 5 6 7 8 9 10 11 12 No. of family 1 3 5 6 10 13 9 5 3 2 2 1
- 9. Illustration_ Continuous Series Calculate mode for the following : Highest Frequency – f1 f0 f2
- 10. The highest frequency is 150 and corresponding class interval is 200 – 250, which is the modal class. Here L =200,f1=150,f0=91, f2=87, C=50 𝛥1= f1 - f0 = 150 – 91 = 59 𝛥2 = f1 - f2 = 150 – 87 = 63 Mode = M0 = 𝑙 + 𝛥1 𝛥1+𝛥2 ∗ 𝑐 = 200+ 59 59+63 x 50 = 200+ 59 122 x 50 = 200+0.484 x 50 = 200 + 24.2 =224.2 Mode is 224.2
- 11. Illustration_ Continuous Series Find the mode from the following table gives the distribution of the number of workers according to the weekly wage in a company. Weekly wage (in Rs.100’ s) 0-10 10-20 20-30 30-40 40-50 50-60 60-70 70-80 Numbers of workers 5 10 15 18 7 8 5 3 f1 f0 f2
- 12. The highest frequency is 18 and corresponding class interval is 30 – 40, which is the modal class. Here L =30, f1=18,f0=15, f2=7, C=10 𝛥1= f1 - f0 = 18 -15 = 3 𝛥2 = f1 - f2 = 18 – 7 = 11 Mode = M0 = 𝑙 + 𝛥1 𝛥1+𝛥2 ∗ 𝑐 = 30 + 3 3+11 x 10 = 30+ 3 14 x 10 = 30+0.214 x 10 = 30 + 2.14 = 32.14 Mode is 32.14