CFA Practice Question

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CFA Practice Question

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

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
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