Mode is the positional measure of central tendency. It is the value of variable which occurs maximum number of times. It is the most common value found in the series. It is extensively used to measure taste and preferences of people for a particular brand of the commodity. The value of mode is denoted by the symbol ‘Z’.
According to Zizek, “The value occurring most frequently in a series and around which the items are distributed most densely is called the mode.”
According to Croxton and Cowden, “The mode of a distribution is the value at the point around which the items tend to be most heavily concentrated.”
According to Tuttle, “Mode is the value which has the greatest frequency (density in its immediate neighborhood.”
Calculation of Mode
Mode can be calculated by the following methods.
Calculation of Mode in Individual Series.
In this series, mode can be calculated by following methods.
(i) Inspection method
(ii) By converting individual series into discrete series.