mindsprout
VeritasPrepKarishmaI read your post
The reason below why I do not find A as the correct answer
Here we are talking about only the currently 'active' 70 professional opera companies, so the companies which are inactive or closed are not the set we are discussing in the question, we can say that if 45 are active now in last 30 years (which remained active after 50 were closed and 95 in total were founded) can still show that there is an explosion in interest because we don't know how many companies failed before 30 years to keep the 25 companies active (70 = 45 + 25), probably there were 200 companies founded before 30 years and only 25 remained active, because people weren't that interested and hence now there is an explosion of interest because approx. 50% of the companies founded in last 30 decades remained active and survived, as compared to the 12.5% of companies that remained active before 30 decades (here 12.5% means 25 out of 200 and approx. 50% means 45 out of 95)
My post tells you that the answer is (B), not (A). I am assuming it is a typo in your post above.
The probability of a place succeeding depends on many many factors - location, policies, management, quality of product, service etc.
Continuing with the example of a pizza parlor, it may shut down because the recipe of the sauce is not good - pizza might still be very popular.
So survival rate is not a measure of popularity of a product. But number of outlets surviving are. If last year, there were 100 pizza outlets surviving in a city and this year there are 200 surviving then we can say that pizza is more popular now than before.
Q1. I know that the post above is 4 years old now. However, if you could remember, could you please explain more on the highlighted portion above?
For example, let's say over the course of the last 30 years 1000 were founded. According to the passage, 45 are still survive. The survival rate is 4.5% Here, why don't we really care about the survival rate, i.e. the total 1000 founded?
Q2. From the passage, does it mean that 70 - 45 = 15 currently active companies were founded MORE THAN 30 years ago?
(and since we do not know how many companies existed more than 30 years ago, we cannot calculate SURVIVAL RATE for the concerned batch?)