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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 14 May 2007, 15:34
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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?
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.

Please explain your answer..
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Re: CR: high school students [#permalink] New post 14 May 2007, 17:20
ani 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.
>>>OOS. The school may already have finance course in its cirriculum.B. At least one-third of high school seniors work part-time jobs after school.
>>>OOS
C. The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check.
>>> The number of high school seniors with significant financial responsibilities = 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.
>>>OOS
E. The majority of high school students have no financial responsibilities to their families.
>>>Answer

Please explain your answer..
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 [#permalink] New post 14 May 2007, 18:28
C FOR ME
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 [#permalink] New post 14 May 2007, 18:40
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.


goalsnr, what did you mean by OOS? Could you please give explanation for the other choices.

for A - the passage clearly states that 80% of the seniors have never taken a personal finance class. That means it's an "elective", not a "core" class. So, the school would definitely do its students a favour by making this class a part of the core curriculum. So, A could be right.

B - can't tell for sure.

C - could be right. the first is 33% of total seniors, the second is 33% of 80% of seniors.

D - wrong. "significant financial responsibilities" are not limited to the mentioned responsibilities.

E - they may not have "significant financial responsibilities" but many more than one third can have finanical responsibilities.

So, I think it boils down to either A or C. C is very direct and hence the answer.
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 [#permalink] New post 14 May 2007, 19:35
The OA is C. I didn't choose C as I wasn't sure whether the number of students surveyed in the studies is the same. If the number is different, C falls apart. But I guess everybody (including the OA) assumes the numbers to be the same, so I stand corrected :)
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 [#permalink] New post 14 May 2007, 19:38
Long time no do. Give me C!

When a GMAT CR asks you for a conclusion, it's really asking you for an inference.

A. High schools would be wise to incorporate personal finance classes into their core curricula. - You need the added assumption that the personal finance class would actually help in money management. (I know this makes sense logically, but remember that on the GMAT you dont make ANY added assumptions).

B. At least one-third of high school seniors work part-time jobs after school. - What?! Not mentioned anywhere in the argument.

C. The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check. - YES! no. of students with financial responsibilites = 33% and no. of students who have bounced a cheque = 26% (1/3rd of 80%).


D. Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities. - Too strong.

E. The majority of high school students have no financial responsibilities to their families. - Again, too strong. Not having 'significant' financial responsibilities is not equivalent to having no financial responsibilities.
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 [#permalink] New post 14 May 2007, 19:53
absolutely C.

think of it as a math problem and you are set: 1/3 of the 80% of students with bank accounts bounced a check=26 2/3 % of HS Students have bounced a check.

26 2/3% < 33.3%

this statement is always true.
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 [#permalink] New post 15 May 2007, 06:00
kripalkavi wrote:
Long time no do. Give me C!

When a GMAT CR asks you for a conclusion, it's really asking you for an inference.

A. High schools would be wise to incorporate personal finance classes into their core curricula. - You need the added assumption that the personal finance class would actually help in money management. (I know this makes sense logically, but remember that on the GMAT you dont make ANY added assumptions).

B. At least one-third of high school seniors work part-time jobs after school. - What?! Not mentioned anywhere in the argument.

C. The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check. - YES! no. of students with financial responsibilites = 33% and no. of students who have bounced a cheque = 26% (1/3rd of 80%).


D. Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities. - Too strong.

E. The majority of high school students have no financial responsibilities to their families. - Again, too strong. Not having 'significant' financial responsibilities is not equivalent to having no financial responsibilities.


I messed the calculations and ended up with 33% for both the cases. Thanks for your explanation.
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Hmmm.. [#permalink] New post 15 May 2007, 12:41
You say not to make any assumptions, but you are assuming the students are accurate and truthful when saying "they have financial responsiblities". They said they did, it did not say that they actually do. Does that logic make any sense?
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 [#permalink] New post 15 May 2007, 21:04
(C)
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