CMA Foundation · Fundamentals of Business Mathematics and Statistics · Measures of Central Tendency and Dispersion
The daily sales (in ₹ thousand) of a Kolkata shop on five days were 12, 15, 19, 20 and 24. What is the arithmetic mean of daily sales?
The arithmetic mean is 18 thousand rupees. Add all five observations to get 90 and divide by the number of observations, 5. The value 19 is the median, which is a different measure of central tendency.
- A17
- B18Correct
- C19
- D20
Explanation
Sum = 12 + 15 + 19 + 20 + 24 = 90. Mean = 90 ÷ 5 = 18. The value 19 is the middle value (the median), not the mean, so it is wrong.
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