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CMA Intermediate · Financial Management and Business Data Analytics · Data Analysis and Modelling

The marks of seven analysts' reports scores, arranged in ascending order, are 4, 6, 8, 10, 12, 14 and 40. Which measure best represents a typical score given the outlier, and what is its value?

The median, equal to 10, is the best representative score. The mean of 13.43 is pulled upward by the extreme value 40, whereas the middle value of the ordered data is unaffected by the outlier. Range measures spread rather than a typical value.

  1. AMean, 13.43
  2. BMedian, 10Correct
  3. CRange, 36
  4. DMean, 10

Explanation

Sum = 94, mean = 94/7 = 13.43, which is inflated by the outlier 40. The median is the fourth value, 10, unaffected by the extreme. Range is a dispersion measure, not an average.

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