Merits of Mode : The mode or modal value of a distribution is that value of the variable for which the frequency is maximum.The number which is repeated maximum number of times is the mode.
1) It is readily comprehensible and easy to compute. In some case it can be computed merely by inspection.
2) It is not affected by extreme values. It can be obtained even if the extreme values are not known.
3) Mode can be determined in distributions with open classes.
4) Mode can be located on the graph also. 5) If all the data are not given then also mode can be calculated. 6) It is easy to understand. 7) It is the most observed data point. 8) Sometimes we get more than one mode and sometimes there is no mode,that gives us the characteristics of the data.
1) It is ill defined. It is not always possible to find clearly defined mode. In some cases, we may come across distributions with two modes. Such distributions are called Bimodal. If a distribution has more than two modes, it is said to be Multimodal.
2) It is not based upon all the observation.
3) Mode can be calculated by various formulae as such the value may differ from one to other. Therefore, it is not rigidly defined.
4) It is affected to a greater extent fluctuations of sampling.
1) Mode is used by manufacturers of ready- made garments, shoes and accessories in common use etc. The ready made garment manufacturers made those sizes more which are used by most of the persons than the other sizes. Similarly, the makers of shoes will make that size maximum which the majority people use and others in less quantity. Mode is used when the data is categorized.