2024 CFA Level I Exam: CFA Study Preparation

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For the grouped frequency distribution shown below, which of the following is false?

A. The median is in class #3.
B. The median is in class #4.
C. The exact value of the minimum cannot be determined.

User	Comment
haosheng	Is the last choice correct?
Nuta	It is correct. You do not know the exact value of the minimum. Whether it 22.5 or 22.454688643. :) Therefore it should NOT be chosen as the answer.
Ioannis	Exactly. For all you know the minimum could be 27, repeated 6 times to give the class frequency.
ArturW	Could you please help me with my thoughts. Class range = 29. Median is (29+1)/2 = 15th element. Assuming minimum at 22nd, the median hits 22+15 = 37 which is in class no #3. Can't find mistake.
8thlegend	You only need to look at the frequency number and calculate the medium there.
hoyleng	how many of this kind of questions during exam? thanks
fsammari	Can someone explain how they got A to be the wrong one
choas69	u cant find the median through looking at the numbers, hence you look at the frequencies 1+n/2 dont look at the 1+ its story goes way long before cfa started so memorize it. 1+29 / 2 = 15 which comes to be 15 then just count it until you reach 15 at which class.
RTDyer	either A is false or B is false, therefore you don't even need to worry about C
kimmykim23	If you read the explanation provided it states that the median is in class #4, which would mean that the correct answer is B. So the" correct answer A" is a typo.
peter2022	the question asks which is FALSE. @kimmykim23

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Learning Outcome Statements

calculate, interpret, and evaluate measures of central tendency and location to address an investment problem

CFA® 2024 Level I Curriculum, Volume 1, Module 3.