CMA Foundation · Fundamentals of Business Mathematics and Statistics · Measures of Central Tendency and Dispersion
The monthly sales (in ₹ thousand) of a Pune retailer over seven months are 42, 35, 50, 38, 45, 60 and 41. What is the median monthly sales?
The median is 42 thousand rupees. After arranging the seven values in ascending order, the middle (fourth) item is 42. The mean, about 44.4, is a different measure of central tendency and should not be confused with the median.
- A41
- B42Correct
- C44.4
- D45
Explanation
Arrange in order: 35, 38, 41, 42, 45, 50, 60. With 7 observations the median is the 4th value, which is 42. The value 44.4 is the arithmetic mean (311/7), not the median. The value 41 is the 3rd item.
Did you get it right without looking?
One question tells you little. A timed set on Measures of Central Tendency and Dispersion shows your real accuracy, how long you take and where you lose marks.
More Measures of Central Tendency and Dispersion questions
- For the data below, what is the arithmetic mean of daily output? Output: 10, 20, 30, 40 units with frequencies 5, 8, 4, 3 respectively.
- In a Pune factory, 40 skilled workers earn an average daily wage of ₹600 and 60 semi-skilled workers earn an average of ₹450. What is the co…
- For the following frequency distribution of marks, find the median: Class 0-10 frequency 5; 10-20 frequency 9; 20-30 frequency 16; 30-40 fre…
- The yearly sales of a shop grew by factors of 2, 4 and 8 in three successive years over the previous year. What is the geometric mean of the…
- For 10 observations, the sum is 60 and the sum of squares is 460. What is the standard deviation?
- Firm A's daily output has mean 50 units and standard deviation 6 units. Firm B's daily output has mean 80 units and standard deviation 8 uni…