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

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According to a recent study on financial roles, one-third of high scho  [#permalink]

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New post Updated on: 03 Jan 2019, 13:20
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67% (01:41) correct 33% (01:43) wrong based on 1513 sessions

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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.

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Originally posted by yossarian84 on 23 Nov 2010, 13:17.
Last edited by Bunuel on 03 Jan 2019, 13:20, edited 3 times in total.
Renamed the topic and edited the question.
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Re: According to a recent study on financial roles, one-third of high scho  [#permalink]

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New post 23 Nov 2010, 14:29
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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.
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Re: According to a recent study on financial roles, one-third of high scho  [#permalink]

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New post 24 Nov 2010, 00:39
1
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).


* * *

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:


Thanks Stuart,

OA is C indeed.

In the test I got confused by the question stem - "Which of the following conclusions can be properly drawn from the statements above"

I thought its an identify the conclusion question....and hence marked A...though I knew that C must be true.
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Re: According to a recent study on financial roles, one-third of high scho  [#permalink]

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New post 24 Nov 2010, 08:45
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The answer is C.

A. Opinion
B. Out of Scope
C. Correct. Given from arguement, 1/3 of students have significant financial responsibilities. 1/3 of 80% of students have bounced a check. Therefore high school seniors with significant financial responsibilties are greater.
D. The passage lists these as an example of significant financial responsibilities. Not that these actions lead to significant financial responsibilities
E. Passage talks about significant ifnancial responsibilites.
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Re: According to a recent study on financial roles, one-third of high scho  [#permalink]

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New post 26 Dec 2011, 20:20
According to a recent study on financial roles, one-third of high school seniors say that they have “significant financial responsibilities.”

According to this statement from the argument, the first study focuses on the high school students in general. So we have to consider all the high school students, not just a specific group.

At the same time, a second study demonstrates that a crisis in money management exists for high school students.

Now, this second study also talks about the same high school students. I think we can safely infer that the number of students being spoken about is the same because there is no distinction made in the argument about the number of students in either study. Both the studies are referring to ALL the high school students in general. The overall strength of all high school students should be taken into consideration.

Taking this into consideration, I think it is pretty clear that C is a clear winner. The numbers and percentages can now be used to show that C must be true.
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Re: According to a recent study on financial roles, one-third of high scho  [#permalink]

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New post 21 Jan 2013, 13:38
1
nave81 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. we have no information about this

B. At least one-third of high school seniors work part-time jobs after school. same as A

C. The number of high school seniors with significant financial responsibilities is greater than the number of seniors who have bounced a check. correct

D. Any high school seniors who contribute to food, shelter, or clothing for themselves or their families have significant financial responsibilities. we already know this, so is not an inference this statement

E. The majority of high school students have no financial responsibilities to their families. never stated in the stimulus


I got this wrong but when I saw the OA I realised my silly mistake!




nex time please insert the question stem

thanks
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Re: According to a recent study on financial roles, one-third of high scho  [#permalink]

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New post 22 Feb 2013, 01:50
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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. OFS

B. At least one-third of high school seniors work part-time jobs after school. OFS

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.
Tricky option. Passage does mention about this but in addition it is also mentioned but are not limited to

E. The majority of high school students have no financial responsibilities to their families.
Tricky option. Passage states: one-third of high school seniors say that they have “significant financial responsibilities.” Word significant is key to reject this option

Therefore C.
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Re: According to a recent study on financial roles, one-third of high scho  [#permalink]

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New post 31 Jul 2014, 23:44
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I choose C, agree with the explanations written so far. One question though, how can you be sure that the number of high school seniors questioned from first study equals to the number of high school seniors from the second study.
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Re: According to a recent study on financial roles, one-third of high scho  [#permalink]

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New post 09 Apr 2018, 13:11
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 high scho  [#permalink]

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New post 19 Jun 2018, 18:25
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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 high scho &nbs [#permalink] 19 Jun 2018, 18:25
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