Understanding the Mode and Range

in LeoFinance3 months ago

many consider the mode and range let's say the two less popular brothers of the mean and median but if used properly they complement them rather nicely the mode is simply the value that occurs most often in a data set let's say we have a data set that consists of the following numbers 6 2 3 3 5 7 so determine what the mode is it helps if we order them from lowest to highest as follows 2 3 3 5 6 7 as we can see the mode is 3 the only value that appears twice in our string but what if we eliminate one of those threes in that case the string becomes 2 3 5 6 7 in cases like this one where there are no repeating values we say there is no mode but if instead of eliminating one of the threes we add a 7 to the original string which becomes 2 3 3 5 6 7 7 in this case there are 2 modes 3 and 7 so we call this dataset bimodal and if there are more than 2 the data set is called multimodal what about the range well as the name suggests it represents the difference between the largest and smallest value in other words what it tells us about our data set is how dispersed to distributed or if you will scattered it is for our initial string we obtain it by subtracting 2 from 7 so the range is 5 simple enough right