Back to Course

SS1: ECONOMICS - 1ST TERM

0% Complete
0/0 Steps
  1. Introduction to Economics | Week 1
    3 Topics
    |
    1 Quiz
  2. Basic Concept of Economics | Week 2
    4 Topics
    |
    1 Quiz
  3. Basic Tools for Economic Analysis | Week 3
    8 Topics
    |
    1 Quiz
  4. Measure of Central Tendency | Week 4
    4 Topics
    |
    1 Quiz
  5. Theory of Demand & Supply I | Week 5
    5 Topics
    |
    1 Quiz
  6. Theory of Demand & Supply II | Week 6
    7 Topics
    |
    1 Quiz
  7. Theory of Production I | Week 7
    7 Topics
    |
    1 Quiz
  8. Theory of Production II | Week 8
    4 Topics
    |
    1 Quiz
  9. Basic Economic Problems of the Society | Week 9
    1 Topic
    |
    1 Quiz
  10. Economic System | Week 10
    4 Topics
    |
    1 Quiz
  • excellence
  • Follow

Lesson Progress
0% Complete

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.

ScoresNo of Students
              240            6
              210            4
              180            8
              90            2
View Answer

2. Explain the importance of a table  

View Answer

3. What are the guidelines for drawing a graph? 

View Answer
Subscribe
Notify of
guest
1 Comment
Oldest
Newest
Inline Feedbacks
View all comments
Ayomide Afolabi
2 years ago

I love it😘😘

Question 1

Find the arithmetic mean, mode, and median

Arithmetic Mean = \( \frac{\sum fx}{\sum f} \\ = \frac{3900}{20} \\ \scriptsize \bar{x} = 195 \)

Mode = 180 because it is the number with highest frequency and it appears 8 times

Arrange in ascending order

90, 90, 180, 180, 180, 180, 180, 180, 180, 180, 210, 210, 210, 210, 240, 240, 240, 240, 240, 240

∴ Median = \( \frac{180 \; + \; 210}{2} \\ = \frac{390}{2} \\ = \scriptsize 195 \)

Question 2

Importance of a Table

  1. It serves as a basis for plotting graphs.
  2. It shows the relationship between two or more variables.
  3. It makes information neater.
  4. It makes data to be easily understood when represented in a table form.
  5. It avoids confusion and repetition of figures.
  6. Figures can be observed at a glance through a table.

Question 3

Guidelines to draw a Graph

  1. The graph must be titled or headed clearly.
  2. The vertical side of a graph is denoted by Y and read as Y-axis while the horizontal side is denoted as X and read as X-axis.
1
0
Would love your thoughts, please comment.x
()
x