83) Median wage

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83) Median wage

by ern5231 » Wed May 12, 2010 10:19 pm
In 100 companies, 64% people are paid more than $4000, 60% people less than$5000, 11% equal to $4300, 3% equal to 4900. What is the median wage? a) 4150 b) 4300 c) 4450 d) 4500 e) 4600 Senior | Next Rank: 100 Posts Posts: 51 Joined: 28 Mar 2010 Location: Hyderabad, India Thanked: 9 times by rajeshsources » Wed May 12, 2010 10:28 pm ern5231 ----- I'm on E)4600. What is the OA? Thanks, Rajesh, Loves GMAT...!!!! Master | Next Rank: 500 Posts Posts: 226 Joined: 09 Aug 2009 by ern5231 » Sun May 16, 2010 6:56 pm I think the options provided don't suffice the problem well. But, how do we work on such problems? Legendary Member Posts: 537 Joined: 22 Jan 2010 Thanked: 14 times Followed by:1 members by frank1 » Sun May 16, 2010 7:16 pm This will be interesting to watch.... any i think we are going from vauge to concrete x numbers ->one number answer which i think is not possible or very diffcult in this case more than$4000 and
less than $5000 you have check lots of possibilities and are 4900 and 4300 included in less than 5000....are they overlapping so,i feel incomplete info or very long question not suitable for 2 minutes solution answers choice like greater than.... or less then .... would have made sense ,i guess....but even in that case personally i think it will be quite difficult... what is the source? Master | Next Rank: 500 Posts Posts: 318 Joined: 13 Jul 2009 Thanked: 12 times by nikhilkatira » Sun May 16, 2010 10:49 pm frank1 wrote:This will be interesting to watch.... any i think we are going from vauge to concrete x numbers ->one number answer which i think is not possible or very diffcult in this case more than$4000 and
less than $5000 you have check lots of possibilities and are 4900 and 4300 included in less than 5000....are they overlapping so,i feel incomplete info or very long question not suitable for 2 minutes solution answers choice like greater than.... or less then .... would have made sense ,i guess....but even in that case personally i think it will be quite difficult... what is the source? Agree with you frank1 Best, Nikhil H. Katira Legendary Member Posts: 610 Joined: 15 Jan 2010 Thanked: 47 times Followed by:2 members by kstv » Mon May 17, 2010 7:12 am ern5231 wrote:In 100 companies, 64% people are paid more than$4000, 60% people less than $5000, 11% equal to$4300, 3% equal to 4900. What is the median wage?
a) 4150 b) 4300 c) 4450 d) 4500 e) 4600
wage of
3% = 4900 11% = 4300
64% > 4000 or 36% < 4000
60% < 5000 or 40% > 5000
so 24% have wages between 4000 - 5000

stuck

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by [email protected] » Mon May 17, 2010 11:53 am
ern5231 wrote:In 100 companies, 64% people are paid more than $4000, 60% people less than$5000, 11% equal to $4300, 3% equal to 4900. What is the median wage? a) 4150 b) 4300 c) 4450 d) 4500 e) 4600 First thing to note: the median is the middle term of an ordered set if there is an odd number of terms and the average of the two middle terms if there is an even number of terms. Since we have 100 terms, the median will be the average of the 50th and 51st terms. Well, that's the theory behind how to answer the question; next, we'd solve for the 50th and 51st terms. However, in this question that's impossble. As people have noted, the 4000-5000 range is 24% of the total, but we only have info on 14% of that range. My guess is that the 4000-5000 range is supposed to be 14% of the total, or the 4300 and 4900 people should add up to 24%. With the current wording, there's no way to solve. Please post the source of all of your questions - where is this one from? Stuart Kovinsky | Kaplan GMAT Faculty | Toronto Kaplan Exclusive: The Official Test Day Experience | Ready to Take a Free Practice Test? | Kaplan/Beat the GMAT Member Discount BTG100 for$100 off a full course

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