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According to a recent study on financial roles, one-third of

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According to a recent study on financial roles, one-third of [#permalink] New post 23 Nov 2010, 13:17
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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?
High schools would be wise to incorporate personal finance classes into their core curricula.
At least one-third of high school seniors work part-time jobs after school.
The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.
The majority of high school students have no financial responsibilities to their families.

OA after some discussion.
[Reveal] Spoiler: OA

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Last edited by yossarian84 on 24 Nov 2010, 00:39, edited 1 time in total.
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Re: High school seniors [#permalink] New post 23 Nov 2010, 14:29
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yossarian84 wrote:
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.

OA after some discussion.


Here we have an inference question with lots of facts and figures. Since the answer to an inference question is something that MUST BE TRUE based on one or more of the pieces of information, we think to ourselves "I'll be able to draw concrete conclusions from the numbers, so there's an excellent chance that the correct answer will be a mathematical deduction."

Accordingly, let's start with the choices related to math, (B) and (C).

Quote:
(B) At least one-third of high school seniors work part-time jobs after school.


We know that 1/3 have significant financial responsibilities, but we have no info on how those students fulfil those duties. Accordingly, (B) is not a MUST BE TRUE and can be eliminated.

Quote:
(C) The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.


We know that 1/3 have significant responsibilities; we also know that 80% have opened a bank account and 1/3 of the 80% have bounced a cheque.

Is 1/3 of 100% > than 1/3 of 80%? YES! Accordingly, (C) MUST BE TRUE and is the correct answer to the question.

* * *

When you're practicing, you should review every answer choice to every question. So, although in a test situation we'd choose (C) and move on, let's go into "review mode" and take a quick look at the other 3 choices:

Quote:
(A) High schools would be wise to incorporate personal finance classes into their core curricula.


Nothing in the stimulus suggest that this is a MUST BE TRUE - we'd have to know a lot more about the educational system to evaluate the impact of (A) - eliminate.

Quote:
(D) Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.


Just because those who have significant financial responsibilities contribute to food, shelter or clothing, that doesn't mean that the reverse is true. This is more of a classic LSAT trap (reversal of sufficiency and necessity, related to formal logic) than a GMAT one.

Quote:
(E) The majority of high school students have no financial responsibilities to their families.


Classic scope shift/too extreme trap - we know that 2/3 don't have "significant" financial responsibilities, but that's not the same as "no" financial responsibilities.
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Re: High school seniors [#permalink] New post 23 Nov 2010, 17:56
Agree with C too. What's the OA?
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Re: High school seniors [#permalink] New post 24 Nov 2010, 00:39
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skovinsky wrote:
yossarian84 wrote:
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.

OA after some discussion.


Here we have an inference question with lots of facts and figures. Since the answer to an inference question is something that MUST BE TRUE based on one or more of the pieces of information, we think to ourselves "I'll be able to draw concrete conclusions from the numbers, so there's an excellent chance that the correct answer will be a mathematical deduction."

Accordingly, let's start with the choices related to math, (B) and (C).


* * *

When you're practicing, you should review every answer choice to every question. So, although in a test situation we'd choose (C) and move on, let's go into "review mode" and take a quick look at the other 3 choices:


Thanks Stuart,

OA is C indeed.

In the test I got confused by the question stem - "Which of the following conclusions can be properly drawn from the statements above"

I thought its an identify the conclusion question....and hence marked A...though I knew that C must be true.
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Re: High school seniors [#permalink] New post 24 Nov 2010, 08:45
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The answer is C.

A. Opinion
B. Out of Scope
C. Correct. Given from arguement, 1/3 of students have significant financial responsibilities. 1/3 of 80% of students have bounced a check. Therefore high school seniors with significant financial responsibilties are greater.
D. The passage lists these as an example of significant financial responsibilities. Not that these actions lead to significant financial responsibilities
E. Passage talks about significant ifnancial responsibilites.
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 28 Apr 2012, 09:51
A little math involved but my answer is also C.
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 28 Apr 2012, 10:27
Answer is C.. that is the only statement that can be derived from the information provided in the paragraph
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 14 Jul 2012, 23:33
i think the question is wrong. it mentions only percentages. what if only 100 people were surveyed in the first first study and thousand people were surveyed in the second(nowhere is it mentioned the no. of people surveyed is the same). then people having responsibilities is one third of 100=33 approx. now the no. of people whose checks bounced in one third of 80% of 1000=0.3 * 800. which is more than 33. Can the experts throw light on this please?
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 14 Jul 2012, 23:46
As far as i have seen, most of math related options (if there is only one among the option) seem to be the OA.

Has anybody else observed this?
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 15 Jul 2012, 02:20
vinzycoolfire wrote:
i think the question is wrong. it mentions only percentages. what if only 100 people were surveyed in the first first study and thousand people were surveyed in the second(nowhere is it mentioned the no. of people surveyed is the same). then people having responsibilities is one third of 100=33 approx. now the no. of people whose checks bounced in one third of 80% of 1000=0.3 * 800. which is more than 33. Can the experts throw light on this please?



i guess that your claim about the number of students surveyed would have made an excellent choice if the question had involved finding an assumption that weakens the argument. However, since we are presented with facts here, the default assumption made must be that the 2 surveys involved the same number, or set of people.
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 15 Jul 2012, 09:04
well thebigr002 imho in must be true questions the answer choice should be backed by the facts provided to you. that means you cannot assume this. in fact you can actually classify an answer as wrong if it is not backed by the facts provided. so i am still not convinced.
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 15 Jul 2012, 22:06
yossarian84 wrote:
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?
High schools would be wise to incorporate personal finance classes into their core curricula.
At least one-third of high school seniors work part-time jobs after school.
The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.
The majority of high school students have no financial responsibilities to their families.

OA after some discussion.


My option : A
Analysis: Option B false ,because the above info points to 1/3 rd seniors exactly.
Option C: No discussion for checks/bouncing checks is made here.
Option D:These responsibilities include, [highlight]but are not limited to[/highlight]. This says all!!
Option E:This cannot be concluded as the above info says"themselves or their families"
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 15 Jul 2012, 22:14
gmadhav wrote:
yossarian84 wrote:
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?
High schools would be wise to incorporate personal finance classes into their core curricula.
At least one-third of high school seniors work part-time jobs after school.
The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities.
The majority of high school students have no financial responsibilities to their families.

OA after some discussion.


My option : A
Analysis: Option B false ,because the above info points to 1/3 rd seniors exactly.
Option C: No discussion for checks/bouncing checks is made here.
Option D:These responsibilities include, [highlight]but are not limited to[/highlight]. This says all!!
Option E:This cannot be concluded as the above info says"themselves or their families"


:oops: Plz ignore my above analysis.Could not read the passage entirely because the page did nt load completely :cry:
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 20 Nov 2013, 06:35
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Re: According to a recent study on financial roles, one-third of [#permalink] New post 31 Jul 2014, 23:44
I choose C, agree with the explanations written so far. One question though, how can you be sure that the number of high school seniors questioned from first study equals to the number of high school seniors from the second study.
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Re: According to a recent study on financial roles, one-third of   [#permalink] 31 Jul 2014, 23:44
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