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GMAT Question Bank IR

This topic has 2 expert replies and 1 member reply
canbtg Senior | Next Rank: 100 Posts Default Avatar
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GMAT Question Bank IR

Post Sun Apr 20, 2014 5:12 am
For each of the following, use the drop-down menu to create the most accurate statement on the basis of the information provided.



a. Among the six regions, the one with the most Techtyx customer transactions ranks … in the number of product types marketed.



(first / second / third / fourth)



b. The region for which the value of the average transaction was greatest is region …



( A / C / E / F)


OA a.fourth b.E




Per the OE , I do not understand why we need to divide the sales figures by the proportion of all Techtyx's transaction in that region to arrive at the average transaction value.Could some please simplify the approach to Second question ( may be with a simple example )

Thanks !
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Post Sun Apr 20, 2014 12:44 pm
Hi canbtg,

The second question requires you to make some reasonable estimates and calculate the approximate AVERAGE transaction for a region. We're interested in finding the GREATEST average.

The answer choices narrow it down to 4 options: A, C, E and F

First, we have to determine some things about the 4 regions. The center of each circle lines up with a point on the X-axis that determines TOTAL SALES for that region. The number inside the circle represents the percent of total transactions. Here's what we know about the 4 regions:

Region A: about 500K in sales, 29% of the overall transactions.
Region C: about 800K in sales, 33% of the overall transactions.
Region E: about 700K in sales, 5% of the overall transactions.
Region F: about 900K in sales, 15% of the overall transactions.

To make this easy, let's say there were 100 total transactions. Since we're asked for the AVERAGE transaction, we'll need to use the Average Formula. This means….

Region A: 500K/29 ---> Less than 20K per
Region C: 800K/33 ---> Less than 30K per
Region E: 700K/5 ----> About 140K per
Region F: 900K/15 ---> About 60K per

The region with the highest average transaction is E

GMAT assassins aren't born, they're made,
Rich

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Contact Rich at Rich.C@empowergmat.com

Thanked by: canbtg
thuyduong91vnu Junior | Next Rank: 30 Posts Default Avatar
Joined
11 Apr 2016
Posted:
27 messages
Post Thu Apr 14, 2016 7:10 pm
Hi Rich,

Though I understand the solution for the 2nd question, I do feel the expression of the definition - The size of each circle and the corresponding number in the circle indicate the proportion of Techtyx customer transactions in that region - quite confusing Sad Could you help to explain it a bit?

When I first read it, I understood it as, let's say we have 5 different Appliance Companies (including Techtyx) selling appliances in A region and the total amount of customer transactions they do in such region sums up to 100,000$, so the amount of Techtyx customer transactions in that region will equal to 0.29 * 100,000$ = 29,000$.

I know that if understanding it in such way, we can not find out the answer, but how can I understand the intended meaning exactly in the first place Sad I mean, is it because this expression actually could be interpreted in such two ways, or because I am wrong here? And if so, what the definition will be to express the meaning above?

Thanks for your response Smile

Post Thu Apr 14, 2016 8:03 pm
Hi thuyduong91vnu,

The description underneath the table tells us that there are only 6 regions in which Techtyx sells products (labeled A through F). If you add up the 6 decimals that appear in those 6 circles, you end up with the number 1. The number 1 is the equivalent of 100% of Techtyx's sales, which makes sense since the prompt tells us that Techtyx sells products in 6 regions.

There's NO mention of any other company (much less 5 other companies), so it's not clear how you came up with that interpretation. The number 6 refers to 6 REGIONS in which Techtyx sells products.

GMAT assassins aren't born, they're made,
Rich

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Contact Rich at Rich.C@empowergmat.com

Thanked by: thuyduong91vnu

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