Hi anant03,
We're given the following table of information to work with (and the following question):
Stock # of Shares
V 68
W 112
X 56
Y 94
Z 45
The table shows the number of shares of each of the 5 stocks owned by Mr. Sami. If Mr. Sami was to sell 20 shares of stock X and buy 24 shares of stock Y, what would be the increase in the range of the number of shares of the 5 stocks owned by Mr. Sami?
A) 4
B) 6
C) 9
D) 15
E) 20
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"Range" questions come from the broader category of statistics, which will show up a couple of times on the GMAT. The range of a group of numbers is the difference between the largest number and the smallest number.
Based on the original number of shares, the range would be: 112 - 45 = 67
However, the prompt tells us that two of the values in the table are going to change. After the changes, the values will be:
V 68
W 112
X 36
Y 118
Z 45
Now the range is 118 - 36 = 82
The INCREASE in the range requires us to compare the "new" range to the "old" range: 82 - 67 = 15
Final Answer: D
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Another approach:
Current range = 112 - 45 = 67
Since x and y are being changed, we can assume that (New Y) - (New X) = New Range. (Otherwise, why bother asking this problem?)
New Y - New X = (94 + 24) - (56 - 20) = 118 - 36 = 82
So the change in ranges is 82 - 67, or 15.
Current range = 112 - 45 = 67
Since x and y are being changed, we can assume that (New Y) - (New X) = New Range. (Otherwise, why bother asking this problem?)
New Y - New X = (94 + 24) - (56 - 20) = 118 - 36 = 82
So the change in ranges is 82 - 67, or 15.
