Posted in Statistics, Total Reads: 1225

Definition: Mode

Mean, median, and mode are the most commonly used kind of "averages" in statistics. For numerical observations, the "mean" is the "average” that is calculated by adding up all the numbers and then divide by the number of observations. The "median" is the "middle" value in the list of observations. To find the median, observations are listed in numerical order and middle value is the median.  The "mode" is the observation that occurs most frequently. If no number is repeated, then there is no mode for the list.

Example: To find the mean, median and mode of the series 11, 16, 11, 10, 14, 16, 15, 21, 11

List in ascending order 10, 11, 11, 11, 14, 15, 16, 16, and 21

Number of Observations:  9

Mean : (11+16+11+10+14+16+15+21+11) / 9 =   13.89

Median: 14 (Middle value)

Mode: 11 (Occurring maximum number of times i.e. highest frequency)

Search & Explore : Management Dictionary

Browse the definition and meaning of more terms similar to Mode. The Management Dictionary covers over 7000 business concepts from 6 categories.


Share this Page on: