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I am quite certain it is incorrect in the mock solution. The CFA book explains it with examples that it is (n+1)y/100 and it makes sense too. Just like optiix noted above
"Just the same as in sequence of 2 numbers, the middle point would neither be 1st nor 2nd number. It would be between 1st and 2nd number."
If we have 2 numbers: 10 and 20, the 50th percentile is neither 10 nor 20. It is 15. |
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