High School Finances

[champwix]

According to a recent study on financial roles, one-third of high school seniors say that they have "significant financial responsibilities." These responsibilities include, but are not limited to, contributing to food, shelter, or clothing for themselves or their families. At the same time, a second study demonstrates that a crisis in money management exists for high school students. According to this study, 80% of high school seniors have never taken a personal finance class even though the same percentage of seniors has opened bank accounts and one-third of these account holders has bounced a check.

Which of the following conclusions can be properly drawn from the statements above?
A) High schools would be wise to incorporate personal finance classes into their core curricula.
B) At least one-third of high school seniors work part-time jobs after school.
C) The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
D) Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.
E) The majority of high school students have no financial responsibilities to their families.

#MGMAT
[spoiler]Though correct answer is C, the comparison shown in this answer choice is between number of high school seniors and number of seniors. Isn't it incorrect??[/spoiler]

[David@VeritasPrep]

I believe they are just using a shortened version. So "seniors" is still referring to high school seniors. Although I certainly see the confusion! "Seniors" means older adults, right!

If this were an official question they would address that. So, don't worry you will not see it on test day.

[Blue_Skies]

According to a recent study on financial roles, one-third of high school seniors say that they have "significant financial responsibilities." These responsibilities include, but are not limited to, contributing to food, shelter, or clothing for themselves or their families. At the same time, a second study demonstrates that a crisis in money management exists for high school students. According to this study, 80% of high school seniors have never taken a personal finance class even though the same percentage of seniors has opened bank accounts and one-third of these account holders has bounced a check.

Which of the following conclusions can be properly drawn from the statements above?
A) High schools would be wise to incorporate personal finance classes into their core curricula. // The stimulus never say anything about this.
B) At least one-third of high school seniors work part-time jobs after school.// out of scope.
C) The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check. // This can be mathematically concluded from the passage.Hence , this is our answer.
D) Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities. // 1/3 of the student says they this but their could be other students handling these responsibilities perfectly well. So, this answer choice is too extreme.
E) The majority of high school students have no financial responsibilities to their families.// The passage doesn't say anything about this.

#MGMAT
[spoiler]Though correct answer is C, the comparison shown in this answer choice is between number of high school seniors and number of seniors. Isn't it incorrect??[/spoiler]

Take a mathematical approach.

[David@VeritasPrep]

Blue_Skies -

But what Champwix is saying is you cannot take a mathematical approach because the stimulus speaks of "one third of high school seniors" and "80% of high school seniors" and then it switches over to "the same percentage of seniors has opened bank accounts..."

"Seniors" typically means older adults who are at retirement age so it is not clear that these three statements refer to the same group.

The answer choice makes the same mistake comparing "high school seniors" with "seniors." That was champwix's doubt...

[Blue_Skies]

yes David, i agree GMAC will not make such an error.

If you say number of seniors == people over 60 than C is out. If you assume number of seniors== high school seniors than C is in.

[kawan84]

I'm a non native. I'vent jumped to answers yet if someone can explain the pre thinking behind this argument.