CFA® Level 1: Mean, Median, and Mode Calculation

Mean, Median, and Mode Calculation for CFA® Level 1 Exam

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Question

Consider the following list of numbers:

6, 4, 3, 8, 3, 3, 5, 9, 11, 4

For this list, the mean, the median and the mode are given respectively by:

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Explanations

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A. B. C. D.

A

The sum of the 10 numbers is 56. The mean is 56/10 = 5.6. The most common number is 3, which is the mode. Since there is an even number (10) of numbers in the list, the median is the average of the 5th and 6th numbers when the list is arranged in an ascending order. The median is therefore equal to (4 + 5)/2 = 4.5.