SS1: ECONOMICS - 1ST TERM
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Introduction to Economics | Week 13 Topics|1 Quiz
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Basic Concept of Economics | Week 24 Topics|1 Quiz
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Basic Tools for Economic Analysis | Week 38 Topics|1 Quiz
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Measure of Central Tendency | Week 44 Topics|1 Quiz
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Theory of Demand & Supply I | Week 55 Topics|1 Quiz
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Theory of Demand & Supply II | Week 67 Topics|1 Quiz
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Theory of Production I | Week 77 Topics|1 Quiz
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Theory of Production II | Week 84 Topics|1 Quiz
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Basic Economic Problems of the Society | Week 91 Topic|1 Quiz
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Economic System | Week 104 Topics|1 Quiz
Mode
Topic Content:
- Definition of Mode
- Advantages of Mode
- Disadvantages of Mode
- Evaluation Questions
What is the Mode of a Set of Numbers:
This is the most common number in a set of scores. It is also referred to as the most frequently occurring number, in a set of data or distribution.
It is the figure or item that has the highest frequency. We have Bi-Modal and Multi-modal. A set of (2) two modes is called Bi-Modal while a set of modes with three or more is called Multi-Modal.
Example 4.4.4:
Given the following set of numbers 33, 40, 4, 63, 9, 33, and 120. Find the mode.
Solution:
Mode is the number that occurs most.
4, 33, 33, 40, 63, 90, 120
33 occurs two times.
Mode = 33
Advantages of Mode:
1. The mode gives quick modal information.
2. Mode is very easy to understand and compute.
3. Mode is not affected by extreme value.
4. Mode ensures effective planning.
5. Mode can be calculated from data or information that is not yet complete.
6. It is commonly used for the measurement of central tendency.
Disadvantages of Mode:
1. Mode cannot be used for further mathematical manipulation.
2. Mode is not useful for further statistical work.
3. If a set of numbers has many modes it is not a reliable average.
4. It may be difficult to calculate when it involves large numbers.
5. Mode does not consider the value of other numbers in a set of numbers.
Evaluation Questions:
1. Given the following scores in Physics of 20 students in SS 3k. Find the arithmetic mean, mode and median.
Scores | No of Students |
240 | 6 |
210 | 4 |
180 | 8 |
90 | 2 |
2. Explain the importance of a table
View Answer3. What are the guidelines for drawing a graph?
View Answer
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