BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Overlapping Set

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Master | Next Rank: 500 Posts
Posts: 134
Joined: Sun Jul 25, 2010 5:22 am
Thanked: 1 times
Followed by:2 members

Overlapping Set

by gmatusa2010 » Fri Dec 24, 2010 4:19 am
In a certain investment club, 36 members invest in domestic
stocks or foreign stocks or both. If 8 members do not invest in
domestic stocks, how many members invest in both domestic
stocks and foreign stocks?

(1) Of the 36 members, 14 do not invest in foreign stocks.
(2) A total of 22 members invest in foreign stocks.

I had E because there was no information for neither. OA suggest that neither is implied. I disagree. Unless it said there's only 36 member in the club, you can't make that assumption. Am I wrong? Most likely, please

Domestic Not-D

F x y

NF z k

"36 members invest in....." to me that means x+y +z= 36 but says nothing about K. The the "8 member did not..." means y+k=8. Both choices are insufficient.
Top
Source: — Problem Solving |
User avatar
Legendary Member
Posts: 543
Joined: Tue Jun 15, 2010 7:01 pm
Thanked: 147 times
Followed by:3 members

by anshumishra » Fri Dec 24, 2010 6:42 am
gmatusa2010 wrote:In a certain investment club, 36 members invest in domestic
stocks or foreign stocks or both. If 8 members do not invest in
domestic stocks, how many members invest in both domestic
stocks and foreign stocks?

(1) Of the 36 members, 14 do not invest in foreign stocks.
(2) A total of 22 members invest in foreign stocks.

I had E because there was no information for neither. OA suggest that neither is implied. I disagree. Unless it said there's only 36 member in the club, you can't make that assumption. Am I wrong? Most likely, please

Domestic Not-D

F x y

NF z k

"36 members invest in....." to me that means x+y +z= 36 but says nothing about K. The the "8 member did not..." means y+k=8. Both choices are insufficient.
I know that may sound a little bit ambiguous, however If had to guess, I would also assume "neither" is implied here. The only reason is that the information is about 36 people of an investment club. While there is some possibility that some of the members (apart from these 36 members) of the club do not invest or are investing in some other stocks, since the author specifically mentions about a particular subset : 36 members invest in domestic stocks or foreign stocks or both , It is most likely implied.
Making it clear would have been better, however it is implied. I hope you got the point I tried to make.
Thanks
Anshu

(Every mistake is a lesson learned )
Top
User avatar
Legendary Member
Posts: 752
Joined: Sun Sep 12, 2010 2:47 am
Thanked: 20 times
Followed by:10 members
GMAT Score:700

by prachich1987 » Mon Dec 27, 2010 10:45 am
gmatusa2010 wrote:In a certain investment club, 36 members invest in domestic
stocks or foreign stocks or both. If 8 members do not invest in
domestic stocks, how many members invest in both domestic
stocks and foreign stocks?

(1) Of the 36 members, 14 do not invest in foreign stocks.
(2) A total of 22 members invest in foreign stocks.

I had E because there was no information for neither. OA suggest that neither is implied. I disagree. Unless it said there's only 36 member in the club, you can't make that assumption. Am I wrong? Most likely, please

Domestic Not-D

F x y

NF z k

"36 members invest in....." to me that means x+y +z= 36 but says nothing about K. The the "8 member did not..." means y+k=8. Both choices are insufficient.
Is the OA [spoiler]A?[/spoiler]
Top
Legendary Member
Posts: 1578
Joined: Sun Dec 28, 2008 1:49 am
Thanked: 82 times
Followed by:9 members
GMAT Score:720

by maihuna » Mon Dec 27, 2010 11:57 am
E it is

Both option provides same info and is insufficient.

See the table below:Given

FY FN Total
DY x

DN
28 8 36

Using option A:

FY FN Total
DY x 22

DN 14
28 8 36

Same using option B, as given Dn Dy can be calculates. So insufficient.


Here D : Domestic, F: Foreign, Y : Yes N No
Charged up again to beat the beast :)
Top

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 3380
Joined: Mon Mar 03, 2008 1:20 am
Thanked: 2256 times
Followed by:1535 members
GMAT Score:800

by lunarpower » Mon Dec 27, 2010 2:55 pm
gmatusa2010 wrote:I had E because there was no information for neither. OA suggest that neither is implied. I disagree. Unless it said there's only 36 member in the club, you can't make that assumption. Am I wrong? Most likely, please
the original wording says:
36 members invest in domestic stocks or foreign stocks or both
this means that these 36 people constitute everyone who does at least one of those things. since these people are the only people mentioned in the entire problem, you can just disregard the possible presence of individuals who are "neither" -- since they just don't factor into the problem.
in other words, the entire universe of people discussed in the problem -- the total of 36 people -- includes only people who invest in at least one of these instruments. therefore, you can draw a grid with 36 in the lower right corner, and 0 in the middle box (the box that corresponds to "no domestic, no foreign").

alternatively, if you insist on including the possible "neither" people -- even though they don't factor into the problem in any tangible way -- then you could put an 'x' in the "neither" box. but, then, the lower right corner (grand total) would have to be (36 + x) rather than just 36, and your results should work out the same way.
Ron has been teaching various standardized tests for 20 years.

--

Pueden hacerle preguntas a Ron en castellano
Potete chiedere domande a Ron in italiano
On peut poser des questions à Ron en français
Voit esittää kysymyksiä Ron:lle myös suomeksi

--

Quand on se sent bien dans un vêtement, tout peut arriver. Un bon vêtement, c'est un passeport pour le bonheur.

Yves Saint-Laurent

--

Learn more about ron
Top
User avatar
Legendary Member
Posts: 516
Joined: Mon Nov 02, 2009 6:42 am
Location: Mumbai
Thanked: 14 times
Followed by:1 members
GMAT Score:710

by ankurmit » Tue Dec 28, 2010 9:35 am
Is OA A?
--------
Ankur mittal
Top
Newbie | Next Rank: 10 Posts
Posts: 3
Joined: Mon Mar 08, 2010 9:22 am
Location: Chicago

by Coop » Tue Dec 28, 2010 11:27 am
The total members of the club is 36 since the question stem speficially states that 36 members invest in domestic, foreign, or both. We can set up a venn diagram or a grid to solve the answer using our 36 members. There is an equation that we can use: PA + PB - PA & PB (the sum of shared items) = total. So we take 28 + 22 - X = 36. X = 14 or 14 members invest in both domestic and foreign. Since statements 1 and 2 state the same answer but in different forms we can narrow the answer choices down to two, D and E. Since we can solve the answer either statement our answer is D. Also, we get a breakdown of 14 members investing soley in domestic and 8 members investing solely in foreign with 14 members investing in both domestic and foreign for a total of 36 members. I hope I explained this clear.
Coop
Top
Master | Next Rank: 500 Posts
Posts: 165
Joined: Wed Mar 24, 2010 8:02 am
Thanked: 2 times
Followed by:1 members

by HPengineer » Tue Dec 28, 2010 8:50 pm
at first i thought E but i left out some information from the problem statement. Now im going with D each sufficient

From stem we can say that there are 36 total people.. and we can also plug 8 in the no domestic box

Statment 1 says 14 do not invest in Foreign so plug 14 into No foreign box since we know neither is 0 we know have a total for No Foreign and we can calculate total for yes foreign 22 - 8 = 14 so 14 goes in the Yes yes box...

Statement 2 gives similar information so D... Does anyone agree with my assesment if not please help correct me.


..................................yes Domestic...........No Domestic..............Total
Yes Foreign..................14............................8..............................22
No Foreign....................14............................0...............................14

Total...............................................................................................36
Top
Master | Next Rank: 500 Posts
Posts: 134
Joined: Sun Jul 25, 2010 5:22 am
Thanked: 1 times
Followed by:2 members

by gmatusa2010 » Tue Dec 28, 2010 11:12 pm
D........................ND
F.............14+X....................8-x...........22
NF.............14.......................x..............14+X
--------------------------------------------------------
................28+X....................8...............36+X


Ron,

What do you mean the result is the same way? I tried putting in the X as you said. YOu have to find the value of 14+X. You still don't know X so you cant determine the value. I think there is OG 11 problem where the neither is not implied in the same wording. I will try to dig that up.














lunarpower wrote:
gmatusa2010 wrote:I had E because there was no information for neither. OA suggest that neither is implied. I disagree. Unless it said there's only 36 member in the club, you can't make that assumption. Am I wrong? Most likely, please
the original wording says:
36 members invest in domestic stocks or foreign stocks or both
this means that these 36 people constitute everyone who does at least one of those things. since these people are the only people mentioned in the entire problem, you can just disregard the possible presence of individuals who are "neither" -- since they just don't factor into the problem.
in other words, the entire universe of people discussed in the problem -- the total of 36 people -- includes only people who invest in at least one of these instruments. therefore, you can draw a grid with 36 in the lower right corner, and 0 in the middle box (the box that corresponds to "no domestic, no foreign").

alternatively, if you insist on including the possible "neither" people -- even though they don't factor into the problem in any tangible way -- then you could put an 'x' in the "neither" box. but, then, the lower right corner (grand total) would have to be (36 + x) rather than just 36, and your results should work out the same way.
Top
Post new topic Post Reply
• Page 1 of 1