- CFA Exams
- CFA Level I Exam
- Topic 1. Quantitative Methods
- Learning Module 3. Statistical Measures of Asset Returns
- Subject 1. Measures of Central Tendency
CFA Practice Question
Consider the following data: 1, 7, 3, 3, 6, 4
The mean and median for this data are ______.
A. 4.8 and 3
B. 4 and 3 1/2
C. 4 and 3 1/3
Explanation: Mean = (1+7+3+3+6+4)/6 = 4
Data arranged in ascending order: 1,3,3,4,6,7
Median = (3+4)/2 = 3.5
Data arranged in ascending order: 1,3,3,4,6,7
Median = (3+4)/2 = 3.5
User Contributed Comments 2
| User | Comment |
|---|---|
| surob | Calculating median is enough in this question, because there is only one option with median of 3.5 |
| Daddykay | Correct, but to be on a safe side it would be good to do both. Imagine you missed out on the median, u risk not getting the anser right. |