It is the value that occurs most often in a set of data.
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Both median and mode are the statistics formulas, Median is called mid value of the given data and mode is the value which occure repetedly in the given data.
properties of mode as used in statistics
They are statistics of central tendency.
A unique mode is the most occurring number in a set of data. For example, since the set: {1,2,2,4,4,5} does not have a single most occurring data value, the two modes (2 and 4) are averaged to make the mode value 3, even though it never occurs. This set does NOT have a unique mode. The set: {5,6,7,7,7,8,8} does have a unique mode, which is 7.
To find the critical value in statistics, it requires a hypothesis testing. Using the critical value approach can also be helpful in this matter.