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27 Nov 2020, 07:28
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The product with the greatest annual average percentage increase over the six years listed is also the product with the greatest total percentage increase for the entire period.: True
For the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed in the table is more than that of the animal products listed.: True
If the dollar value of sugar exports remained flat for the five years after 2011, and all other products continued to experience their respective average annual percentage changes during that period, would the dollar value of exactly two product categories surpass that of sugar exports by 2016?: Not true
The table shows the dollar value in millions for select Brazilian exports by agricultural product group for six years from 2006 through 2011.
For each of the following statements, select  True if the information in the table accurately supports the statement. Otherwise, select Not true.
| Product | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | Annual avg % change 2006-11 |
|---|---|---|---|---|---|---|---|
| Beef | 3,890 | 4,354 | 5,081 | 3,890 | 4,564 | 5,077 | 5 |
| Coffee | 2,953 | 3,405 | 4,168 | 3,791 | 5,204 | 8,026 | 22 |
| Corn | 482 | 1,919 | 1,405 | 1,302 | 2,216 | 2,716 | 41 |
| Dairy | 139 | 274 | 510 | 148 | 132 | 98 | -7 |
| Eggs | 30 | 53 | 95 | 86 | 115 | 110 | 30 |
| Live animals | 89 | 285 | 418 | 471 | 697 | 492 | 41 |
| Nuts | 247 | 294 | 289 | 304 | 3,307 | 345 | 7 |
| Pork | 1,022 | 1,209 | 1,448 | 1,204 | 1,321 | 1,416 | 7 |
| Poultry | 3,472 | 5,019 | 6,921 | 5,700 | 6,691 | 8,073 | 18 |
| Processed meats | 71 | 105 | 152 | 142 | 151 | 161 | 18 |
| Rice | 60 | 53 | 312 | 268 | 163 | 613 | 59 |
| Sugar | 6,167 | 5,101 | 5,483 | 8,378 | 12,762 | 14,942 | 22 |
| Wheat | 64 | 30 | 204 | 63 | 227 | 699 | 61 |
For each of the following statements, select  True if the information in the table accurately supports the statement. Otherwise, select Not true.
| True | Not true | |
| The product with the greatest annual average percentage increase over the six years listed is also the product with the greatest total percentage increase for the entire period. | ||
| For the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed in the table is more than that of the animal products listed. | ||
| If the dollar value of sugar exports remained flat for the five years after 2011, and all other products continued to experience their respective average annual percentage changes during that period, would the dollar value of exactly two product categories surpass that of sugar exports by 2016? |
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Official Answer
The product with the greatest annual average percentage increase over the six years listed is also the product with the greatest total percentage increase for the entire period.: True
For the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed in the table is more than that of the animal products listed.: True
If the dollar value of sugar exports remained flat for the five years after 2011, and all other products continued to experience their respective average annual percentage changes during that period, would the dollar value of exactly two product categories surpass that of sugar exports by 2016?: Not true
27 Nov 2020, 07:28
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Bookmarks
Official Solution:
Only a part of this question requires a calculation.
First, we can see that sugar exports peaked at 14,942, or basically 15K. What we need to find out is if EXACTLY TWO other products would surpass if it they continue growing at the same average annual rate for 5 years from 2011 to 2016.
The casual mistake in this question is to check for 2 products and not to check for 3. The answer will be incorrect if any other value is found except 2. Thus if there are 3 products or 1 or 0, then the answer is NO. It is only YES if we have 2 products. Another mistake people make on these questions is not stopping when they got an answer and calculating even if the answer is already "No". You will see that in the details below.
Step 1: Sort by 2011 Column (3-5 seconds)
Step 2: Determine which other products could achieve the 15K value:
- Poultry - Yes. It is at 8K, and it is growing at 18% per year, which means that over 5 years, it will be more than 100%. I do not need to calculate anything. You can however double-check if you do not have that comfort with compounding interest. Put 1.18 * into the GMAT calculator and push = sign 5 times. That will give you an equivalent of (1+0.18)^5. Then subtract 1 to get 128% so clearly it is doubling, so this is one number. (this took me 5-10 seconds)
- Coffee - Yes! Definitely. I do not even need to try. 8K at 22% will definitely be over 15K in 5 years. (5 seconds)
- Beef - No
- Corn - maybe. It is 2.7K but the growth rate is 40% per year. I would be inclined to say it won't make it but this is a tricky question, and I only spent about 20-25 seconds on it, so may as well check. This looks borderline. Sure enough, 1.4* 5 times is 5.378 and multiply that times 2,716 is 14.5K. Gotta be kidding me. We have 3, so the answer is we have found 3 products that will exceed 14K threshold. (15 secs with all the number punching)
- We do NOT need to check others. We already got our answer regardless of the rest. We know the answer is NOT exactly two.
Step 3: Answer NO
Correct answer:
The product with the greatest annual average percentage increase over the six years listed is also the product with the greatest total percentage increase for the entire period. "True"
For the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed in the table is more than that of the animal products listed. "True"
If the dollar value of sugar exports remained flat for the five years after 2011, and all other products continued to experience their respective average annual percentage changes during that period, would the dollar value of exactly two product categories surpass that of sugar exports by 2016? "Not true"
TetyanaRokobit
Only a part of this question requires a calculation.
First, we can see that sugar exports peaked at 14,942, or basically 15K. What we need to find out is if EXACTLY TWO other products would surpass if it they continue growing at the same average annual rate for 5 years from 2011 to 2016.
The casual mistake in this question is to check for 2 products and not to check for 3. The answer will be incorrect if any other value is found except 2. Thus if there are 3 products or 1 or 0, then the answer is NO. It is only YES if we have 2 products. Another mistake people make on these questions is not stopping when they got an answer and calculating even if the answer is already "No". You will see that in the details below.
Step 1: Sort by 2011 Column (3-5 seconds)
Step 2: Determine which other products could achieve the 15K value:
- Poultry - Yes. It is at 8K, and it is growing at 18% per year, which means that over 5 years, it will be more than 100%. I do not need to calculate anything. You can however double-check if you do not have that comfort with compounding interest. Put 1.18 * into the GMAT calculator and push = sign 5 times. That will give you an equivalent of (1+0.18)^5. Then subtract 1 to get 128% so clearly it is doubling, so this is one number. (this took me 5-10 seconds)
- Coffee - Yes! Definitely. I do not even need to try. 8K at 22% will definitely be over 15K in 5 years. (5 seconds)
- Beef - No
- Corn - maybe. It is 2.7K but the growth rate is 40% per year. I would be inclined to say it won't make it but this is a tricky question, and I only spent about 20-25 seconds on it, so may as well check. This looks borderline. Sure enough, 1.4* 5 times is 5.378 and multiply that times 2,716 is 14.5K. Gotta be kidding me. We have 3, so the answer is we have found 3 products that will exceed 14K threshold. (15 secs with all the number punching)
- We do NOT need to check others. We already got our answer regardless of the rest. We know the answer is NOT exactly two.
Step 3: Answer NO
Correct answer:
The product with the greatest annual average percentage increase over the six years listed is also the product with the greatest total percentage increase for the entire period. "True"
For the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed in the table is more than that of the animal products listed. "True"
If the dollar value of sugar exports remained flat for the five years after 2011, and all other products continued to experience their respective average annual percentage changes during that period, would the dollar value of exactly two product categories surpass that of sugar exports by 2016? "Not true"
