I just need a little help with the mode. Basically for my assesment i have picked 40 values.
Here is the question i need help with.
Another measure of central tendency is the mode. How effective is the modal class as an average in this situation. Comment on the validity of the mode, keeping in mind the effect of any assumptions made. Use logical arguments to support your conclusions.
So basically i grouped my data into a few classes and made a frequency distribution. I now have my modal class (750,000.5 - 1,000,000.5). And the average of my data is $1153500. I just neeed arguments to supprt why