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

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Intern
Joined: 11 Jun 2017
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Re: According to a recent study on financial roles, one-third of  [#permalink]

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28 Jun 2017, 17:45
It's a math question.

Assumes the total seniors are 90 people. According to the passage 1/3 of seniors which is 30 people feeling the financial responsibility. And in the next phrase saying 80% of senior which is 72 people have open back accounts and 1/3 of these seniors which is 24 people got bounced check.

Choice C, 30 people who feel financial responsibility > 24 people got bounced check. Hence C is correct.
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Re: According to a recent study on financial roles, one-third of  [#permalink]

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06 Jul 2017, 08:07
Merged topics. Please, search before posting questions!
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Re: According to a recent study on financial roles, one-third of  [#permalink]

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15 Jul 2017, 10:37
Here is my reasoning. Would be glad to know any comments or corrections on the same:

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 sen
iors 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.

Now I picked C as it was more plausible in reality: premise 1) if 90 was the total, then 30 have responsibilities and premise 2) 80% 90 which is 72, and out of these 24 have had a bounced check. So, as 30> 24 C is right

Even so, I got stuck between E and C - both seem correct to me. E clearly states majority of the kids DON'T have financial responsibility, which is true : 60 students don't have financial responsibility, even though few of them would have bank accounts. C is also true 30> 24. So why is E not a correct conclusion?
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Re: According to a recent study on financial roles, one-third of  [#permalink]

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16 Aug 2017, 06:21
Option 1 assumes Correlation-Causation. (X) Personal Finance Class not taken, (Y) Cheques bounced. No evidence X is causing Y. Hence, uncertain that by dealing X Y will be taken care of.
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Re: According to a recent study on financial roles, one-third of  [#permalink]

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08 Oct 2017, 02:25
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).

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.

Nothing is given about check bounce status of remaining 20% people. What if combined number of people having bounced check is greater than 1/3 of total? Plz clarify
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Re: According to a recent study on financial roles, one-third of  [#permalink]

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08 Oct 2017, 10:43
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).

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.

Really good explanation, Thanks
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Re: According to a recent study on financial roles, one-third of  [#permalink]

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09 Apr 2018, 14:11
C option say number of students but number of students is not mentioned. Only % is mentioned. Need more clarity on this.
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Re: According to a recent study on financial roles, one-third of  [#permalink]

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19 Jun 2018, 19:25
chelawatrishabh wrote:
C option say number of students but number of students is not mentioned. Only % is mentioned. Need more clarity on this.

Hi chelawatrishabh,
We can infer actual number from percentage because the group consists of high school students only.

The number of high school seniors with significant financial responsibilities = 1/3 of total students = 33.33% of Total high school seniors

The number of high school seniors who have bounced a check. = number of high school seniors with bank accounts * 1/3 who have bounced a check = (80% of total students)/3 = 26.67% of Total high school seniors

Hope this helps!!
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Re: According to a recent study on financial roles, one-third of &nbs [#permalink] 19 Jun 2018, 19:25

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