- CFA Exams
- CFA Level I Exam
- Study Session 11. Equity Valuation (3)
- Reading 29. Market-Based Valuation: Price and Enterprise Value Multiples
- Subject 12. Valuation indicators: issues in practice

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**CFA Practice Question**

An analyst has come up with three values for the arithmetic mean, weighted mean and harmonic mean for a group of stocks. Which value looks like the harmonic mean?

A. 12.8

B. 13.4

C. 15.6

**Explanation:**In generally the harmonic mean is the smallest out of the three means.

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