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A gallery displayed and sold works of art by five different artists.

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Sajjad1994
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A gallery displayed and sold works of art by five different artists. [#permalink] New post   26 Dec 2023, 07:05
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65% (hard)

Question Stats:

58% (03:18) correct 42% (03:16) wrong based on 118 sessions
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Data Insights (DI) Butler 2023-24 [Question #164, Date: Dec-20-2023] [Click here for Details]


A gallery displayed and sold works of art by five different artists. The table gives a list of all the pieces that were displayed.

PieceArtistMaterialSale
Price ($)
AlleyBrooksWatercolor on Paper3100
ConspireAlenkaInk on Paper1300
FlopMastersonAcrylic Paint on Canvas1900
GuarrnyBrooksAcrylic Paint on Canvas1700
InspireAlenkaChalk on Paper1900
MonsoulBrooksChalk on Paper2200
MorgueMastersonOil on Canvas2300
Past MastFabianoCollageNot sold
PerspireAlenkaChalk on Paper1600
SaneMastersonOil on Canvas2100
Shuffle #2JulienInk on Paper1400
Shuffle #6JulienInk on Paper1400
Spear LearJulienAcrylic Paint on Canvas2500
Tender MistFabianoWatercolor on Paper1800
Untitled #26JulienCollage1700
Wispy CloudsFabianoAcrylic Paint on Canvas1400
(Sort ↕ the table by clicking on the headers)

For each of the following statements, select Yes if the statement is true based on the information in the table. Otherwise, select No.
Yes No
The median sale price among the piecesthat sold was $1850.
If a piece sold for more than $2000, the probability that it was by Masterson was 33%.
Works on canvas sold for a higher average price than did works on paper.
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The median sale price among the piecesthat sold was $1850.: No If a piece sold for more than $2000, the probability that it was by Masterson was 33%.: No Works on canvas sold for a higher average price than did works on paper.: Yes
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Re: A gallery displayed and sold works of art by five different artists. [#permalink] New post   09 Feb 2024, 08:17
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How to do the question 3 quickly?
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Re: A gallery displayed and sold works of art by five different artists. [#permalink] New post   13 Feb 2024, 14:24
mmdfl wrote:
How to do the question 3 quickly?

­Maybe count the number of values above 2000 and below;

for one: you have only 2 values above 2000
for the other 50% of the values are above;

--> that must help going faster I think
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Re: A gallery displayed and sold works of art by five different artists. [#permalink] New post   13 Feb 2024, 16:08
Saad225 wrote:
mmdfl wrote:
How to do the question 3 quickly?

­Maybe count the number of values above 2000 and below;

for one: you have only 2 values above 2000
for the other 50% of the values are above;

--> that must help going faster I think

but why 2000 thou? The problem with question 3, regarding time consumption, is the fact that we need to calculate the average value of two different categories.­
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Re: A gallery displayed and sold works of art by five different artists. [#permalink] New post   14 Feb 2024, 07:19
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Official Explanation

Statement 1: Fifteen of the 16 pieces sold. The eighth highest sale price is the median of the set of sale prices. This price is $1800.

Answer: No

Statement 2: The probability that a piece by Masterson sold for more than $2000 is 33%, but that’s not what the question is asking. Five pieces in total sold for more than $2000, and two of them were by Masterson, so the probability is 2 out of 5, or 40%.

Answer: No

Statement 3: This will take some doing, since there’s no neat way to sort the table in order to get all the canvas and paper works grouped neatly together. It is also not easy to eyeball the table and judge whether paper or canvas works had a higher average sale price so you should calculate the actual averages. Sorting by material helps a little. Six pieces were on canvas. Their average sale price was:

\(\frac{1400+1700+1900+2500+2100+2300}{6}=1983.33$\)

Answer: Yes
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Re: A gallery displayed and sold works of art by five different artists. [#permalink]
14 Feb 2024, 07:19
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