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veritas Multisource Reasoning Sample Question# 2

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veritas Multisource Reasoning Sample Question# 2 [#permalink] New post 20 Jan 2013, 16:48
Hi,

Can any one please explain the solution for fourth statement of veritas Multisource Reasoning Sample Question# 2.

http://www.veritasprep.com/sample-problems/?question=7

Since the sellers agent is more willing to drop the prices in the negotiation, can't we infer that The sellers' real estate agent is more likely to accept a lower final price of the home than are the sellers themselves.?
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Re: veritas Multisource Reasoning Sample Question# 2 [#permalink] New post 20 Jan 2013, 18:59
no we cannot infer as the agent makes a statement to which we get no response ie the last statement ,so without knowing what the buyers would have done with 330 we cannot say definitely ie they will accept lower or not .

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Re: veritas Multisource Reasoning Sample Question# 2 [#permalink] New post 20 Feb 2013, 13:30
Expert's post
soaringAlone wrote:
Hi,

Can any one please explain the solution for fourth statement of veritas Multisource Reasoning Sample Question# 2.

http://www.veritasprep.com/sample-problems/?question=7

Since the sellers agent is more willing to drop the prices in the negotiation, can't we infer that The sellers' real estate agent is more likely to accept a lower final price of the home than are the sellers themselves.?


Hi soaringAlone, to elaborate on what Siddarth86 mentioned above, remember that the IR is part of the GMAT, which means that the same standards you'd have on any CR question must be upheld. In this case, we're looking for a "must be true" logical standard, and all we have is a "yeah could easily be true" inference from the text. If the sellers had written back saying "340K is the lowest we'll go", then you could infer the price points of both parties.

Furthermore, this question plays on people's preconceived notions. Most people believe that their real estate agents are willing to sell their houses for less than they're worth in order to maximize turnover. Most sellers would surmise that real estate agents would rather flip a house in one week for a reasonable price than put in 3 months work for an extra 2-5% on the selling price. This preconceived notion can lead to an erroneous answer choice on test day.

Whenever a GMAT question seems to be preying on your preconceived notions, you need to double check that the statements are supported 100% by the text and not being helped along by your own beliefs. In this case, it's entirely possible that the real estate agent wants to hold out for more than the buyers would, so the answer must be false as we're not completely sure either way.
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Re: veritas Multisource Reasoning Sample Question# 2   [#permalink] 20 Feb 2013, 13:30
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