- CFA Exams
- CFA Exam: Level I 2021
- Study Session 2. Quantitative Methods (1)
- Reading 7. Statistical Concepts and Market Returns
- Subject 4. Measures of Center Tendency

###
**CFA Practice Question**

For the grouped frequency distribution shown below, which of the following is false?

B. The median is in class #4.

C. The exact value of the minimum cannot be determined.

A. The median is in class #3.

B. The median is in class #4.

C. The exact value of the minimum cannot be determined.

Correct Answer: A

The only false statement is that the median is in class #3. The position of the median is (n + 1)/2 = (29 + 1)/2 = 15. The 15th piece of data is in class #4. Although we cannot identify the value of the median, we do know that the median is in class #4.

###
**User Contributed Comments**
11

User |
Comment |
---|---|

haosheng |
Is the last choice correct? |

Nuta |
It is correct. You do not know the exact value of the minimum. Whether it 22.5 or 22.454688643. :) Therefore it should NOT be chosen as the answer. |

Ioannis |
Exactly. For all you know the minimum could be 27, repeated 6 times to give the class frequency. |

ArturW |
Could you please help me with my thoughts. Class range = 29. Median is (29+1)/2 = 15th element. Assuming minimum at 22nd, the median hits 22+15 = 37 which is in class no #3. Can't find mistake. |

8thlegend |
You only need to look at the frequency number and calculate the medium there. |

hoyleng |
how many of this kind of questions during exam? thanks |

fsammari |
Can someone explain how they got A to be the wrong one |

choas69 |
u cant find the median through looking at the numbers, hence you look at the frequencies 1+n/2 dont look at the 1+ its story goes way long before cfa started so memorize it. 1+29 / 2 = 15 which comes to be 15 then just count it until you reach 15 at which class. |

RTDyer |
either A is false or B is false, therefore you don't even need to worry about C |

kimmykim23 |
If you read the explanation provided it states that the median is in class #4, which would mean that the correct answer is B. So the" correct answer A" is a typo. |

peter2022 |
the question asks which is FALSE. @kimmykim23 |