MODE

Merits of Mode:

  • It is simple to understand and easy to calculate.
  • It is not affected by extreme values

 

In the table above, the value 500 creates a huge difference in the mean but brings no change in the mode and median.

  • It can be calculated for open end class intervals
  • It can be determined graphically
  • It is an actual value and occurs in the data if data is discrete.

Demerits of Mode:

  • It cannot be uniquely determined if the data contains two or more values with same frequency. In this case, there will be more than one values of the mode.
  • It cannot be used for further algebraic analysis.
  • It is not based on all observations
  • It may not be a good representative of data always, as the observation with highest frequency may not be always equidistant from other observations.

MEDIAN

 

Arithmetic Mean

 

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