CFA Level I · CFA Level I Exam · Statistical Characteristics of Asset Returns
An analyst sorts 200 monthly fund returns from lowest to highest. The return at the 150th position is most likely the:
The return at position 150 of 200 is the third quartile. It sits 75% of the way through the ordered data, which is the 75th percentile. The median would be near position 100 and the 25th percentile near position 50.
- A25th percentile
- Bthird quartileCorrect
- Cmedian
Explanation
The third quartile is the 75th percentile. Position 150 out of 200 is 75% of the way through the ordered data, so it marks the third quartile. The median would sit near position 100 and the 25th percentile near position 50.
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