- CFA Exams
- CFA Level I Exam
- Topic 1. Quantitative Methods
- Learning Module 3. Statistical Measures of Asset Returns
- Subject 1. Measures of Central Tendency

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**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

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**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. |