CMA Final · Strategic Cost Management · Introduction to Tools for Data Analytics
A Pune retailer's data analyst records weekly sales (in Rs lakh) for five weeks: 12, 15, 11, 18 and 14. What are the mean and the median of this data?
The mean is 14 and the median is 14. The total of the five weekly figures is 70, giving a mean of 14, and after sorting the values the middle observation is 14, so both measures of central tendency coincide for this dataset.
- AMean 14, median 14Correct
- BMean 14, median 15
- CMean 14, median 12
- DMean 15, median 14
Explanation
Sum = 12+15+11+18+14 = 70, so mean = 70/5 = 14. Sorted data: 11, 12, 14, 15, 18, so the middle value is 14. Option with median 15 wrongly picks the second value in the unsorted list or the wrong position.
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