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Economics · Ch 11 — Measures of Central Tendency

Mode

11.5

Mode

The mode is the value that occurs most frequently in a series — the most "typical" value, around which the greatest concentration of items clusters. It answers questions like: which shoe size is in most demand, or which shirt style sells most often? The word derives from the French la Mode, meaning the most fashionable value. The mode is denoted MoM_o. …