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Ok. See, odd x odd = odd
even x even = even
From (2) you have Y^2 = even means Y x Y = even. There's only one possibility for Y x Y = even when Y is even. Hope it is clear enough. _________________

"Life is like a box of chocolates, you never know what you'r gonna get"

(1) 2Y is even.
2Y = 4 shows Y = 2(even)
2Y = 6 shows Y = 3(odd)
Not sufficient.

(2) Y^2 is even.
Y^2 = 2 shows Y = sqrt(2) (not even)
Y^2 = 4 gives Y = 2 (even)
Not sufficient.

(3) together
taking both statements will exclude choices like Y = 3 or sqrt(2) from above. 2 satisfies both statements and ans to the question is "Yes, Y is even".

Good catch, hardworker ! Statement 2 should be insufficient while statmenet 1 is sufficient. In this repsect, it should be A since the gmat states that C is "both statements are sufficient while neither one is"