Mode
Candlefocus EditorMode is especially helpful in describing data that cannot be described with the mean and median. For example, when measuring income, the mean and median are not useful, since they will not reflect the gaps in income between the wealthy and the poor. However, the mode will show the typical value, which in this example would be an average salary.
Mode is also useful for measuring qualitative data, such as color, nationality, and occupation. For example, if you were to ask a group of people what their favorite color is, the mode of the answers would tell you what the most popular color is.
Mode is useful in analyzing the centrality of a data set. Specifically, mode can be used to measure the skewness of the data set. Right skewness is measured when the mode is smaller than the mean and median. Left skewness is measured when the mode is greater than the mean and median.
Overall, mode is a useful measure of central tendency. In situations where the mean and median are skewed or ill-suited, mode is a powerful tool. It is especially useful in measuring the centrality of qualitative data and describing data that cannot be described with the mean and median.