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The statement 'The mode is the value of the observation that appears most frequently.' is True.
We know that, the mode is the most frequent number.
It is the number that occurs the highest number of times.
The observation occurring the most number of times or which has highest frequency is known as the mode.
For example, in {6, 3, 9, 6, 6, 5, 9, 3} the Mode is 6 as it occurs most often.
There is no mode when all observed values appear the same number of times in a data set.
Therefore, the statement 'The mode is the value of the observation that appears most frequently.' is True.
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