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In a demographic study, the population and total income of a

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In a demographic study, the population and total income of a [#permalink]

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New post 17 May 2008, 02:55
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In a demographic study, the population and total income of a certain region were estimated from other data, and both estimates had lower and upper limits. At the time of the estimates, was the per capita income for the region greater than $16500?

(1) The lower limit for the estimate of the population was 330,000
(2) The lower limit for the estimate of the total income was $5,500,000,000
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 17 May 2008, 11:18
puma wrote:
In a demographic study, the population and total income of a certain region were estimated from other data, and both estimates had lower and upper limits. At the time of the estimates, was the per capita income for the region greater than $16500?

1) the lower limit for the estimate of the population was $330,000
2) the lower limit for the estimate of the total income was $5,500,000,000


shouldn't statement 1 say 330,000 people instead of $330,000?

If that is the case, it is E

you need to find the worst case scenario number, which is the lower limit of total income divide by the higher limit of total population.
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 18 May 2008, 00:23
Why should I divide the lower limit of total income by the higher limit of total population? What's the link between this and per capita income of $16500?
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 18 May 2008, 07:27
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puma wrote:
Why should I divide the lower limit of total income by the higher limit of total population? What's the link between this and per capita income of $16500?


The lower limit for income divided by the higher limit for population is the combination that will yield the lowest possible per capita income. You can divide the St 1 by St 2 and get a per capita income number, but it's not the lowest possible value given the available constraints.

If St 1 gave you the highest limit for population, you'd be good to go for C.
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Re: In a demographic study, the population and total income of a [#permalink]

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New post Updated on: 22 Jul 2014, 03:19
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1
In a demographic study, the population and total income of a certain region were estimated from other data, and both estimates had lower and upper limits. At the time of the estimates, was the per capita income for the region greater than $16500?

(1) The lower limit for the estimate of the population was 330,000
(2) The lower limit for the estimate of the total income was $5,500,000,000

Originally posted by arjtryarjtry on 30 Jul 2008, 05:40.
Last edited by Bunuel on 22 Jul 2014, 03:19, edited 1 time in total.
Edited the question and added the OA.
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 30 Jul 2008, 05:55
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arjtryarjtry wrote:
In a demographic study, the population and total income of a certain region were estimated from other data, and both estimates had lower and upper limits. At the time of the estimates, was the per capita income for the region greater than $16500?

1) the lower limit for the estimate of the population was 330,000
2) the lower limit for the estimate of the total income was $5,500,000,000


E) is answer

Least Per capita income = Least total income/ Max population

Since we only have min population we cannot determine whether per capita income was greater then or less than 165000
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 30 Jul 2008, 10:03
arjtryarjtry wrote:
THANKS...


to find the minimum income per captia, we need to lowest limit total income, and highest limit for population. Because we do not have the later. Ans is E
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 03 Aug 2008, 06:58
arjtryarjtry wrote:
In a demographic study, the population and total income of a certain region were estimated from other data, and both estimates had lower and upper limits. At the time of the estimates, was the per capita income for the region greater than $16500?

1) the lower limit for the estimate of the population was 330,000
2) the lower limit for the estimate of the total income was $5,500,000,000


This can be calculated with both (1) and (2) =>

LEAST Total popu. = p = 330,000
Least total income = I=$5,500,000,000
Least per capita income=PI= p/I = 5/3 * 10^4 = 1.6667 * 10^4 > 16500 hence the question can be answered using both
IMO C
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 03 Aug 2008, 06:59
spriya wrote:
arjtryarjtry wrote:
In a demographic study, the population and total income of a certain region were estimated from other data, and both estimates had lower and upper limits. At the time of the estimates, was the per capita income for the region greater than $16500?

1) the lower limit for the estimate of the population was 330,000
2) the lower limit for the estimate of the total income was $5,500,000,000


This can be calculated with both (1) and (2) =>

LEAST Total popu. = p = 330,000
Least total income = I=$5,500,000,000
Least per capita income=PI= p/I = 5/3 * 10^4 = 1.6667 * 10^4 > 16500 hence the question can be answered using both
IMO C


oops I did silly mistake again :( whats the source of these questions ?
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 10 Dec 2009, 11:41
1
This is a good question

We need to have sufficient values for the Numerator and the Denominator to determine the Per capita income

Per capita income = Income/Population

Statement 1 -------INSUFFICIENT

We have the value of the estimated lower limit of the population, but have no indication of the Income to evaluate. Hence insufficient

Statement 2------INSUFFICIENT

We have the value of the estimated lower limit of the total income, but no indication of the population. Hence insufficient

Statement 1 and 2,

Since we are only given the estimated lower limit of both, what if either of them is more than the estimate?
Lets see, if the population is higher than the estimate, then we will have a larger denominator and hence per capita income will be less than 16500$.
If we were given the highest range of the Population, we would have been able to determine it

Hence E
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 07 Jul 2015, 14:54
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puma wrote:
In a demographic study, the population and total income of a certain region were estimated from other data, and both estimates had lower and upper limits. At the time of the estimates, was the per capita income for the region greater than $16500?

(1) The lower limit for the estimate of the population was 330,000
(2) The lower limit for the estimate of the total income was $5,500,000,000


Question : Is Income / Total Population > $16,500?

Hint: The question require
Either, the minimum value of per capita Income which can be calculated by Minimum Income and Maximum Population
Or, the Maximum value of per capita Income which can be calculated by Maximum Income and Minimum Population


Statement 1: The lower limit for the estimate of the population was 330,000

Neither can we calculate Minimum Per capita Income nor Maximum Per capita Income. Hence,
NOT SUFFICIENT


Statement 2: The lower limit for the estimate of the total income was $5,500,000,000

Neither can we calculate Minimum Per capita Income nor Maximum Per capita Income. Hence,
NOT SUFFICIENT

Combining the Two statements
Using the Lower limit of both Neither can we calculate Minimum Per capita Income nor Maximum Per capita Income. Hence,
NOT SUFFICIENT

Answer: option E
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 10 Jul 2015, 12:53
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The key is that if you divide 5500000000/330000 you get 16,667. While this is higher than the per capita income described, the population (or the denominator) could be higher, making the value of 16,667 potentially lower. As you do not know the upper bound, you can considerate to be infinite, which would lower the value much below 16,500.
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Re: In a demographic study, the population and total income of a [#permalink]

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New post 19 Dec 2015, 14:33
GMATinsight

So lemme try to understand this. From the question stem we know that the estimated per capita income should lie between -
(LOWER limit for the estimate of the total income/HIGHER limit for the estimate of the population) and (HIGHER limit for the estimate of the total income/LOWER limit for the estimate of the population)

Since st1+st2 give us (LOWER limit for the estimate of the total income/LOWER limit for the estimate of the population) which lies somewhere in the middle we cant answer the question.

So even if the question instead was- was the per capita income for the region LOWER than $17,000? we would not be able to answer it right? Just confirming. Thanks

GMATinsight wrote:
puma wrote:
In a demographic study, the population and total income of a certain region were estimated from other data, and both estimates had lower and upper limits. At the time of the estimates, was the per capita income for the region greater than $16500?

(1) The lower limit for the estimate of the population was 330,000
(2) The lower limit for the estimate of the total income was $5,500,000,000


Question : Is Income / Total Population > $16,500?

Hint: The question require
Either, the minimum value of per capita Income which can be calculated by Minimum Income and Maximum Population
Or, the Maximum value of per capita Income which can be calculated by Maximum Income and Minimum Population


Statement 1: The lower limit for the estimate of the population was 330,000

Neither can we calculate Minimum Per capita Income nor Maximum Per capita Income. Hence,
NOT SUFFICIENT


Statement 2: The lower limit for the estimate of the total income was $5,500,000,000

Neither can we calculate Minimum Per capita Income nor Maximum Per capita Income. Hence,
NOT SUFFICIENT

Combining the Two statements
Using the Lower limit of both Neither can we calculate Minimum Per capita Income nor Maximum Per capita Income. Hence,
NOT SUFFICIENT

Answer: option E

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Re: In a demographic study, the population and total income of a [#permalink]

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New post 21 Dec 2015, 09:09
NoHalfMeasures wrote:
GMATinsight

So lemme try to understand this. From the question stem we know that the estimated per capita income should lie between -
(LOWER limit for the estimate of the total income/HIGHER limit for the estimate of the population) and (HIGHER limit for the estimate of the total income/LOWER limit for the estimate of the population)

Since st1+st2 give us (LOWER limit for the estimate of the total income/LOWER limit for the estimate of the population) which lies somewhere in the middle we cant answer the question.

So even if the question instead was- was the per capita income for the region LOWER than $17,000? we would not be able to answer it right? Just confirming. Thanks

GMATinsight wrote:
puma wrote:
In a demographic study, the population and total income of a certain region were estimated from other data, and both estimates had lower and upper limits. At the time of the estimates, was the per capita income for the region greater than $16500?

(1) The lower limit for the estimate of the population was 330,000
(2) The lower limit for the estimate of the total income was $5,500,000,000


Question : Is Income / Total Population > $16,500?

Hint: The question require
Either, the minimum value of per capita Income which can be calculated by Minimum Income and Maximum Population
Or, the Maximum value of per capita Income which can be calculated by Maximum Income and Minimum Population


Statement 1: The lower limit for the estimate of the population was 330,000

Neither can we calculate Minimum Per capita Income nor Maximum Per capita Income. Hence,
NOT SUFFICIENT


Statement 2: The lower limit for the estimate of the total income was $5,500,000,000

Neither can we calculate Minimum Per capita Income nor Maximum Per capita Income. Hence,
NOT SUFFICIENT

Combining the Two statements
Using the Lower limit of both Neither can we calculate Minimum Per capita Income nor Maximum Per capita Income. Hence,
NOT SUFFICIENT

Answer: option E


Yes, You are absolutely correct.

if a and b are Greater than zero then

Min value of (a/b) can be calculated when we have minimum value of a and Maximum value of b
Max value of (a/b) can be calculated when we have Maximum value of a and minimum value of b
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Re: In a demographic study, the population and total income of a [#permalink]

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Re: In a demographic study, the population and total income of a   [#permalink] 06 Apr 2018, 02:17
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