CFA Level 1: Median, Mode, and Sample Analysis

Median and Mode of Sample Calculation

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Question

The median and the mode of the sample: 3, 2, 4, 5, 6, 99, 99, 100 equal:

Answers

Explanations

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A. B. C. D.

D

The mode equals the most common observation; in this case, it is 99.

If the number of observations is even, the median is the mean of the two middle observations. In this dataset, arrange the data in ascending order and select the

4th and 5th observations. These happen to be 5 and 6. The median is then 5.5.