Mode: Mode is that value a dataset, which is repeated most often in the database. In other words, mode is the value, which is predominant in the series or is at the position of greatest density. Mode may or may not exist in a series, or if it exists, it may not be unique, or its position may be somewhat uncertain.
Merits of Mode:
1. Mode is the most representative value of distribution, it is useful to calculate model wage.
2. It is not affected by the extreme items in the series.
3. It can be determined graphically.
4. For open-ended classes, Mode can be calculated.
5. It can be located by inspection.
Demerits of Mode:
1. It is not based on all observations.
2. Mode cannot be calculated when frequency distribution is ill-defined
3. It is not capable of further algebraic treatment. Like mean, combined mode cannot be calculated.
4. It is not rigidly defined measure because several formulae to calculate mode is used.