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The two statements are not consistent; if Statement 1 is true, then Statement 2 is automatically false. On real GMAT questions, the two statements must always be consistent.
The question tests concepts you don't need to know for the GMAT - I don't think you can answer this easily without knowing quite a lot about parabolas, and you don't need to know about parabolas for the test. But out of interest only:
When we have an equation in coordinate geometry where y = ax^2 + bx + c, that equation will represent a 'parabola', which will look like a U-shape, though it might be upside down, so something like this: ∩
We know two points on the parabola already. If you plot those points, and plot the point given in Statement 1, by connecting the dots you can see that the parabola must be a U-shape, not a ∩-shape. Since the curve crosses the x-axis at x=5, and is climbing as you move right from that point, f(7) must be positive.
If Statement 2 is true, and f(8) > f(9), then the parabola is falling as you move from x=8 to x=9, and since we know the two points on the x-axis are to the left of x=8, the parabola would need to be a ∩-shape. If the parabola crosses the x-axis at x=5, then f(7) will be negative. That's why the statements contradict each other.
Regardless, it's not a question worth studying for GMAT purposes.
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