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CMA Final · Strategic Cost Management · Introduction to Tools for Data Analytics

A data analyst at a Mumbai retailer examines a dataset of 8 daily sales values (Rs thousand): 20, 22, 24, 26, 28, 30, 32, 38. What are the mean and median respectively, and which measure is pulled upward by the high value 38?

The mean is 27.5 and the median is 27, and the mean is the measure pulled upward by the high value. The total of the eight values is 220, giving a mean of 27.5, while the median averages the 4th and 5th values, 26 and 28.

  1. AMean 27.5; median 27; the mean is pulled upwardCorrect
  2. BMean 27.5; median 27; the median is pulled upward
  3. CMean 27; median 27.5; the mean is pulled upward
  4. DMean 28; median 27; the mean is pulled upward

Explanation

Sum = 20+22+24+26+28+30+32+38 = 220, so mean = 220/8 = 27.5. The median is the average of the 4th and 5th values: (26+28)/2 = 27. The mean is sensitive to the extreme value 38, so it is pulled upward above the median.

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