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Define Mode in Real Estate
Mode:
Mode is a statistical measure that represents the most frequently occurring value in a set of data. In other words, it's the number that appears the most in a list of numbers.
Example:
If you have a list of test scores, like 75, 85, 95, 85, and 90, then 85 is the mode because it appears twice, which is more than any other number in the list.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
Mode, oh what a curious thing,
It's the number that makes the others take wing!
In a list of numbers, it's the one that's seen,
More times than any other, it's quite keen.
Let's say you have some test scores, oh what fun,
75, 85, 95, 85, and 90, every one.
Which number is the mode, can you guess?
It's 85, appearing twice, nothing less!
So when you're looking for the most common score,
Just find the mode, and then you'll soar!