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# Magoosh Blog

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Magoosh GMAT Instructor
Joined: 28 Dec 2011
Posts: 4459
Own Kudos [?]: 28644 [0]
Given Kudos: 130
Magoosh GMAT Instructor
Joined: 28 Dec 2011
Posts: 4459
Own Kudos [?]: 28644 [0]
Given Kudos: 130
Magoosh GMAT Instructor
Joined: 28 Dec 2011
Posts: 4459
Own Kudos [?]: 28644 [0]
Given Kudos: 130
Magoosh GMAT Instructor
Joined: 28 Dec 2011
Posts: 4459
Own Kudos [?]: 28644 [0]
Given Kudos: 130
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Magoosh GMAT Instructor
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Integrated Reasoning on the GMAT: The Complete Guide [#permalink]
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Magoosh GMAT Instructor
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GMAT Word Problems: Introduction, Strategies, and Practice Questions [#permalink]
 FROM Magoosh Blog: GMAT Word Problems: Introduction, Strategies, and Practice Questions You may love GMAT word problems or you may hate them, but you can’t get around them if you want to ace the GMAT Quant section. No matter what your feelings are about this problem type, though, Magoosh’s experts have put together everything you need to know (and practice!) GMAT word problems in order to master them before test day.What to Expect from GMAT Word Problems[/*][*]Strategy Guide: What’s the Trick to Mastering GMAT Word Problems?[*]GMAT Word Problem Practice Questions[*]A Final Word on GMAT Word Problems[/list]GMAT Quant section. How much of the GMAT is word problems? Within the Quant section, actually a whole lot! A study of official GMAT questions from actual tests show that word problems account for 58.2% of all GMAT math questions. In other words, test-takers should anticipate a word problem cropping up (on average) in three out of every five questions you’ll see in Quant. Because of GMAT word problems’ prevalence, you can expect to see both Data Sufficiency and Problem Solving questions in this format. The question format and answer choices may look different, but the basic premise will be the same.You may be feeling the pressure, but hang in there! If you’re worried about how to master word problems on the GMAT, keep reading for our GMAT Word Problems strategy guide.Variables in GMAT Answer Choices: 2 Approaches.tips for plugging in numbers that you should use!Here’s a quick summary of how to quick the best numbers for a particular problem:Remember that the GMAT has a broad definition of “number” that goes beyond positive integers! Zero, fractions, and negatives are all included. Work on developing number sense to help select the best numbers in a given scenario.For percent problems, think outside the box: GMAT test writers know lots of students pick 100. Try 500 or 1000 instead. Don’t try to pick numbers for questions involving more than one percent increase or decrease.Pay attention to units and convert them appropriately. This is particularly important in solutions and mixing problems!Don’t pick 1 as a number—it has too many unique properties.A separate case involving plugging in, rather than picking, numbers: When all the answer choices are numerical, one further strategy we have at our disposal is backsolving. Using this strategy, we can pick one answer, plug it into the problem, and see whether it works. If this choice is too big or too small, it guides us in what other answer choices to eliminate. Typically, we would start with answer choice (C), but if another answer choice is a particularly convenient choice, then we would start there.Click here for a video answer and explanation to GMAT Word Problem 1![/b]Click here for a text answer and explanation to GMAT Word Problem 1!Our task is to determine the ratio of Bob’s trees to Ann’s trees. Let’s label these numbers of trees with variables:Bob’s trees→B, Ann’s trees→AWith these variables, we can express the ratio we want to determine:$$B/A$$ =?Statement 1:Ann planted 20 trees more than Bob planted.Let’s translate this into an equation using A and B:$$A=B+20$$Now we can substitute this into our ratio, replacing A:$$B/A$$ = $$B/(B+20)$$No matter what simplifications we make, we cannot find a numerical value for this fraction. We would need a value for B. We cannot determine the ratio. Statement 1 by itself is not sufficient.Statement 2:Ann planted 10 percent more trees than Bob planted.Let’s translate this into an equation using A and B:$$A=1.10 x B$$Again, let’s substitute this in for A in our ratio:$$B/A$$ = $$B/(1.10B)$$= $$1/1.1$$We found a value for the ratio of Bob’s trees to Ann’s trees. Statement 2 alone is sufficient. [*]The Townville museum was open for 7 consecutive days. If the number of visitors each day was 3 greater than the previous day, how many visitors were there on the first day?(1) There were a total of 126 visitors for the 7 days.(2) The number of visitors on the seventh day was three times the number of visitors on the first day.[/list]A. Statement 1 ALONE is sufficient to answer the question, but statement 2 alone is NOT sufficient.B. Statement 2 ALONE is sufficient to answer the question, but statement 1 alone is NOT sufficient.C. BOTH statements 1 and 2 TOGETHER are sufficient to answer the question, but NEITHER statement ALONE is sufficient.D. Each statement ALONE is sufficient to answer the question.E. Statement 1 and 2 TOGETHER are NOT sufficient to answer the question.Click here for a video answer and explanation to GMAT Word Problem 2!Click here for a text answer and explanation to GMAT Word Problem 2!If x is the number of visitors on the first day, then:x = # of visitors on the 1st dayx + 3 = # of visitors on the 2nd dayx + 6 = # of visitors on the 3rd dayx + 9 = # of visitors on the 4th dayx + 12 = # of visitors on the 5th dayx + 15 = # of visitors on the 6th dayx + 18 = # of visitors on the 7th day1) Adding up the number of visitors gives us:x + (x + 3) + (x + 9) + (x + 12) + (x + 15) + (x + 18) = 126We could simplify and solve this for x. So Statement 1 is sufficient.2) x + 18 = 3xAgain, we can simplify this and solve for x. So Statement 2 is sufficient.Answer: (D) [*]Two teachers, Ms. Ames and Mr. Betancourt, each had N cookies. Ms. Ames was able to give the same number of cookies to each one of her 24 students, with none left over. Mr. Betancourt was also able to give the same number of cookies to each one of his 18 students, with none left over. If N > 0, what is the value of N?(1) N<100(2) N > 50[/list]A. Statement 1 ALONE is sufficient to answer the question, but statement 2 alone is NOT sufficient.B. Statement 2 ALONE is sufficient to answer the question, but statement 1 alone is NOT sufficient.C. BOTH statements 1 and 2 TOGETHER are sufficient to answer the question, but NEITHER statement ALONE is sufficient.D. Each statement ALONE is sufficient to answer the question.E. Statement 1 and 2 TOGETHER are NOT sufficient to answer the question.Click here for a video answer and explanation to GMAT Word Problem 3!Click here for a text answer and explanation to GMAT Word Problem 3!This question is really about common multiples and the LCM (note that it is different than finding the set of all multiples, though!). If Ms. Ames can give each of her 24 students k cookies, so that they all get the same and none are left over, then 24k = N. Similarly, in Mr. Betancourt’s class, 18s = N.What are the common multiples of 18 and 24?18 = 2×9 = 2×3×3 = 6×324 = 3×8 = 2×2×2×3 = 6×4From the prime factorizations, we see that GCF = 6, so the LCM isLCM = 6×3×4 = 72and all other common multiples of 18 and 24 are the multiples of 72: {72, 144, 216, 288, 360, …}Statement #1: if N<100, the only possibility is N = 72. This statement, alone and by itself, is sufficient.Statement #2: if N > 50, then N could be 72, or 144, or 216, or etc. Many possibilities. This statement, alone and by itself, is not sufficient.Answer = (A) [*]A certain zoo has mammals and reptiles and birds, and no other animals. The ratio of mammals to reptiles to birds is 11:8:5. How many birds are in the zoo?(1) there are twelve more mammals in the zoo than there are reptiles(2) if the zoo acquired 16 more mammals, the ratio of mammals to birds would be 3:1[/list]A. Statement 1 ALONE is sufficient to answer the question, but statement 2 alone is NOT sufficient.B. Statement 2 ALONE is sufficient to answer the question, but statement 1 alone is NOT sufficient.C. BOTH statements 1 and 2 TOGETHER are sufficient to answer the question, but NEITHER statement ALONE is sufficient.D. Each statement ALONE is sufficient to answer the question.E. Statement 1 and 2 TOGETHER are NOT sufficient to answer the question.Click here for a video answer and explanation to GMAT Word Problem 4!Click here for a text answer and explanation to GMAT Word Problem 4!A short way to do this problem. The prompt gives us ratio information. Each statement gives use some kind of count information, so each must be sufficient on its own. From that alone, we can conclude: answer = D. This is all we have to do for Data Sufficiency.Here are the details, if you would like to see them.Statement (1): there are twelve more mammals in the zoo than there are reptilesFrom the ratio in the prompt, we know mammals are 11 “parts” and reptiles are 8 “parts”, so mammals have three more “parts” than do reptiles. If this difference of three “parts” consists of 12 mammals, that must mean there are four animals in each “part.” We have five bird “parts”, and if each counts as four animals, that’s 5*4 = 20 birds. This statement, alone and by itself, is sufficient.Statement (2): if the zoo acquired 16 more mammals, the ratio of mammals to birds would be 3:1Let’s say there are x animals in a “part”—this means there are currently 11x mammals and 5x birds. Suppose we add 16 mammals. Then the ratio of (11x + 16) mammals to 5x birds is 3:1.(11x + 16)/(5x) = 3/1 = 311x + 16 = 3*(5x) = 15x16 = 15x – 11x16 = 4x4 = xSo there are four animals in a “part”. The birds have five parts, 5x, so that’s 20 birds. This statement, alone and by itself, is sufficient.Both statements are sufficient. Answer = D. average speed to total distance traveled, from total time to total amount.The key now is to put them into practice. Jot down these techniques or bookmark this post so you can come back as you continue your practice with GMAT word problems. You can also check out our posts on compound interest and Venn diagrams for more practice with GMAT word problems. Good luck!This post was written with contributions from our Magoosh content creator, Rachel Kapelke-Dale.The post GMAT Word Problems: Introduction, Strategies, and Practice Questions appeared first on Magoosh GMAT Blog.
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Magoosh GMAT Instructor
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GMAT Error Log: The Key to GMAT Success (Free Template Included) [#permalink]
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Magoosh GMAT Instructor
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Magoosh GMAT Instructor
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How to Solve GMAT Motion Problems [#permalink]
 FROM Magoosh Blog: How to Solve GMAT Motion Problems Word Problems make up a majority of the quantitative section of the GMAT (almost 60 percent). Of the word problems they’ll face, students tend to need the most help with GMAT motion problems. This type of problem centers around the “dust” formula, which is short for Distance equals Speed multiplied by Time, or $$\text{D}\times\text{S}=\text{T}$$. But there are many varieties of motion problem, and we will discuss techniques for each of them. At the end of this article, you’ll also find motion word problems with solutions for you to test your knowledge!The Distance Equation[/*][*]Multi-Segment Motion Problems[/*][*]Average Speed[/*][*]Multiple Traveler Questions[/*][*]Shrinking and Expanding Gaps[/*][*]Data Sufficiency[/*][*]GMAT Motion Problems Review: Practice Problems[/*][/list]Distance equals Speed multiplied by Time, or $$\text{D}\times\text{S}=\text{T}$$. If you learn this basic equation well, you’ll be able to dust your math troubles away! (Insert rimshot.) We can rearrange this formula to determine that Speed is equal to Distance divided by Time, and that Time is equal to Distance divided by Speed. Distance is the measurement of how far apart objects, people, or points are. Speed is the rate at which someone or something is traveling. Time is how long it takes to travel. Let’s demonstrate this. Walking at a constant rate of 160 meters per hour, Monroe can cross a bridge in 2 hours. What is the length of the bridge? Here, the length of the bridge is the distance Monroe must cross. Using Distance equals Speed multiplied by Time, we get: $$(160\;\text{meters per hour})\times(2\;\text{hours})=320\;\text{meters}$$ Seems simple enough so far, right? Let’s check out a few more GMAT motion problems.Speed is equal to Distance divided by Time. Let’s take that a step further and talk about average speed. Average speed is defined as total distance traveled divided by the total time period spent traveling. This means that if you have a trip with multiple segments, you’ll want to take the sum of the distances of each segment and divide that by the sum of the times of each segment. Average speed captures the constant speed needed to travel the total distance in the total time. Let’s demonstrate this. Koki drove 16 miles in 10 minutes, and then drove an additional 6 miles in 5 minutes. What is Koki’s average speed for the entire trip in miles per hour?Click here for the answer and explanationWell, average speed is the total distance divided by the total time. $$\text{D}_\text{Total}=16\;\text{miles}+6\;\text{miles}=22\;\text{miles}$$ $$\text{T}_\text{Total}=10\;\text{minutes}+5\;\text{minutes}=15\;\text{minutes}$$ $$\text{S}_\text{Average}=\frac{\text{D}_\text{Total}}{\text{T}_\text{Total}}$$ $$\text{S}_\text{Average}=\frac{22\;\text{miles}}{15\;\text{minutes}}\times\frac{60\;\text{minutes}}{1\;\text{hour}}=88\;\text{miles per hour}$$ That’s straightforward enough, but what if we are not given any distances or times? It is possible to solve an average speed problem, even if all you are given are the different speeds in each segment of the trip. You might then think that average speed would just be the average of all of the speeds, but that is not correct. Let’s say that Nathaniel drove from Gwenville to Samton at an average speed of 24 miles per hour. He then drove the same route on the return trip back from Samton to Gwenville at an average speed of 36 miles per hour. If you were asked to find Nathaniel’s average speed, it would not just be 30 miles per hour (the average of 24 and 36).Click here to work through this problemTo see this, let’s go back to our MVP dust formula. Since there are two legs of the trip, we will have two equations. D1, S1, T1; D2, S2, T2. Because Nathaniel’s trip is a round trip, we can assume that D1and D2 are the same, so we will set both of them equal to D. $$\text{D}_1=\text{D}\\\text{S}_1=24\;\text{miles per hour}\\\text{T}_1=\frac{D}{24\;\text{miles per hour}}$$ $$\text{D}_2=\text{D}\\\text{S}_2=36\;\text{miles per hour}\\\text{T}_2=\frac{D}{36\;\text{miles per hour}}$$ $$\text{D}_\text{Total}=\text{2D}$$ $$\text{T}_\text{Total}=\frac{D}{24\;\text{miles per hour}}+\frac{D}{36\;\text{miles per hour}}$$ $$\text{S}_\text{Average}=\frac{\text{D}_\text{Total}}{\text{T}_\text{Total}}$$ $$\text{S}_\text{Average}=\frac{\text{2D}}{\frac{D}{24\;\text{miles per hour}}+\frac{D}{36\;\text{miles per hour}}}$$ We can factor a D out of this fraction. $$\text{S}_\text{Average}=\frac{2}{\frac{1}{24}+\frac{1}{36}}\;\text{miles per hour}$$ We can find a common denominator between 24 and 36. $$\text{S}_\text{Average}=\frac{2}{\frac{3}{72}+\frac{2}{72}}\;\text{miles per hour}$$ $$\text{S}_\text{Average}=\frac{2}{\frac{5}{72}}\;\text{miles per hour}=\frac{2}{1}\times\frac{72}{5}=\frac{144}{5}\;\text{miles per hour}=28.8\;\text{miles per hour}$$ In summary, whenever you want to find the average speed of a round trip, and you are given the two segment speeds, you can put it in the form $$\text{S}_\text{Average}=\frac{\text{2}}{\frac{1}{\text{S}_1}+\frac{1}{\text{S}_2}}$$. You can also use this formula to find one of the segment speeds, given the other segment speed and the average speed.diagram. Let’s say that a car and truck are moving in the same direction on the same highway. The truck is moving at 50 miles an hour, and the car is traveling at a constant speed. At 3 pm, the car is 30 miles behind the truck and at 4:30 pm, the car overtakes and passes the truck. What is the speed of the car?Click here for the answer and explanationThe car and truck are moving in the same direction, and the car is gaining on the truck. This means that the gap between the vehicles is shrinking and that the gap rate is the difference of the two vehicles’ respective speeds. $$\text{S}_\text{G}=\text{S}_\text{C}-\text{S}_\text{T}$$ The distance of the gap is initially 30 miles. $$\text{D}=30\;\text{miles}$$ The time frame we are given for the closing of the gap is from 3 pm to 4:30 pm. $$\text{T}=1.5\;\text{hours}=\frac{3}{2}\;\text{hours}$$ $$\text{S}_\text{G}=\frac{\text{D}}{\text{T}}$$ $$\text{S}_\text{G}=\frac{30\;\text{miles}}{\frac{3}{2}\;\text{hours}}=30\times\frac{2}{3}=20\;\text{miles per hour}$$ $$20\;\text{miles per hour}=\text{S}_\text{C}-50\;\text{miles per hour}$$ $$20\;\text{miles per hour}+50\;\text{miles per hour}=\text{S}_\text{C}=70\;\text{miles per hour}$$ data sufficiency question from Magoosh, then review the video explanation.[/*][/list]Let us know how you did on these practice questions in the comments below. If you’re looking for more GMAT motion problems, try out one of Magoosh’s GMAT plans, which comes with practice tests, video lessons, and study schedules. Good luck!The post How to Solve GMAT Motion Problems appeared first on Magoosh Blog — GMAT® Exam.
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Magoosh GMAT Instructor
Joined: 28 Dec 2011
Posts: 4459
Own Kudos [?]: 28644 [0]
Given Kudos: 130
How to Solve GMAT Motion Problems [#permalink]
 FROM Magoosh Blog: How to Solve GMAT Motion Problems Word Problems make up a majority of the quantitative section of the GMAT (almost 60 percent). Of the word problems they’ll face, students tend to need the most help with GMAT motion problems. This type of problem centers around the “dust” formula, which is short for Distance equals Speed multiplied by Time, or $$\text{D}\times\text{S}=\text{T}$$. But there are many varieties of motion problem, and we will discuss techniques for each of them. At the end of this article, you’ll also find motion word problems with solutions for you to test your knowledge!The Distance Equation[/*][*]Multi-Segment Motion Problems[/*][*]Average Speed[/*][*]Multiple Traveler Questions[/*][*]Shrinking and Expanding Gaps[/*][*]Data Sufficiency[/*][*]GMAT Motion Problems Review: Practice Problems[/*][/list]Distance equals Speed multiplied by Time, or $$\text{D}\times\text{S}=\text{T}$$. If you learn this basic equation well, you’ll be able to dust your math troubles away! (Insert rimshot.) We can rearrange this formula to determine that Speed is equal to Distance divided by Time, and that Time is equal to Distance divided by Speed. Distance is the measurement of how far apart objects, people, or points are. Speed is the rate at which someone or something is traveling. Time is how long it takes to travel. Let’s demonstrate this. Walking at a constant rate of 160 meters per hour, Monroe can cross a bridge in 2 hours. What is the length of the bridge? Here, the length of the bridge is the distance Monroe must cross. Using Distance equals Speed multiplied by Time, we get: $$(160\;\text{meters per hour})\times(2\;\text{hours})=320\;\text{meters}$$ Seems simple enough so far, right? Let’s check out a few more GMAT motion problems.Speed is equal to Distance divided by Time. Let’s take that a step further and talk about average speed. Average speed is defined as total distance traveled divided by the total time period spent traveling. This means that if you have a trip with multiple segments, you’ll want to take the sum of the distances of each segment and divide that by the sum of the times of each segment. Average speed captures the constant speed needed to travel the total distance in the total time. Let’s demonstrate this. Koki drove 16 miles in 10 minutes, and then drove an additional 6 miles in 5 minutes. What is Koki’s average speed for the entire trip in miles per hour?Click here for the answer and explanationWell, average speed is the total distance divided by the total time. $$\text{D}_\text{Total}=16\;\text{miles}+6\;\text{miles}=22\;\text{miles}$$ $$\text{T}_\text{Total}=10\;\text{minutes}+5\;\text{minutes}=15\;\text{minutes}$$ $$\text{S}_\text{Average}=\frac{\text{D}_\text{Total}}{\text{T}_\text{Total}}$$ $$\text{S}_\text{Average}=\frac{22\;\text{miles}}{15\;\text{minutes}}\times\frac{60\;\text{minutes}}{1\;\text{hour}}=88\;\text{miles per hour}$$ That’s straightforward enough, but what if we are not given any distances or times? It is possible to solve an average speed problem, even if all you are given are the different speeds in each segment of the trip. You might then think that average speed would just be the average of all of the speeds, but that is not correct. Let’s say that Nathaniel drove from Gwenville to Samton at an average speed of 24 miles per hour. He then drove the same route on the return trip back from Samton to Gwenville at an average speed of 36 miles per hour. If you were asked to find Nathaniel’s average speed, it would not just be 30 miles per hour (the average of 24 and 36).Click here to work through this problemTo see this, let’s go back to our MVP dust formula. Since there are two legs of the trip, we will have two equations. D1, S1, T1; D2, S2, T2. Because Nathaniel’s trip is a round trip, we can assume that D1and D2 are the same, so we will set both of them equal to D. $$\text{D}_1=\text{D}\\\text{S}_1=24\;\text{miles per hour}\\\text{T}_1=\frac{D}{24\;\text{miles per hour}}$$ $$\text{D}_2=\text{D}\\\text{S}_2=36\;\text{miles per hour}\\\text{T}_2=\frac{D}{36\;\text{miles per hour}}$$ $$\text{D}_\text{Total}=\text{2D}$$ $$\text{T}_\text{Total}=\frac{D}{24\;\text{miles per hour}}+\frac{D}{36\;\text{miles per hour}}$$ $$\text{S}_\text{Average}=\frac{\text{D}_\text{Total}}{\text{T}_\text{Total}}$$ $$\text{S}_\text{Average}=\frac{\text{2D}}{\frac{D}{24\;\text{miles per hour}}+\frac{D}{36\;\text{miles per hour}}}$$ We can factor a D out of this fraction. $$\text{S}_\text{Average}=\frac{2}{\frac{1}{24}+\frac{1}{36}}\;\text{miles per hour}$$ We can find a common denominator between 24 and 36. $$\text{S}_\text{Average}=\frac{2}{\frac{3}{72}+\frac{2}{72}}\;\text{miles per hour}$$ $$\text{S}_\text{Average}=\frac{2}{\frac{5}{72}}\;\text{miles per hour}=\frac{2}{1}\times\frac{72}{5}=\frac{144}{5}\;\text{miles per hour}=28.8\;\text{miles per hour}$$ In summary, whenever you want to find the average speed of a round trip, and you are given the two segment speeds, you can put it in the form $$\text{S}_\text{Average}=\frac{\text{2}}{\frac{1}{\text{S}_1}+\frac{1}{\text{S}_2}}$$. You can also use this formula to find one of the segment speeds, given the other segment speed and the average speed.diagram. Let’s say that a car and truck are moving in the same direction on the same highway. The truck is moving at 50 miles an hour, and the car is traveling at a constant speed. At 3 pm, the car is 30 miles behind the truck and at 4:30 pm, the car overtakes and passes the truck. What is the speed of the car?Click here for the answer and explanationThe car and truck are moving in the same direction, and the car is gaining on the truck. This means that the gap between the vehicles is shrinking and that the gap rate is the difference of the two vehicles’ respective speeds. $$\text{S}_\text{G}=\text{S}_\text{C}-\text{S}_\text{T}$$ The distance of the gap is initially 30 miles. $$\text{D}=30\;\text{miles}$$ The time frame we are given for the closing of the gap is from 3 pm to 4:30 pm. $$\text{T}=1.5\;\text{hours}=\frac{3}{2}\;\text{hours}$$ $$\text{S}_\text{G}=\frac{\text{D}}{\text{T}}$$ $$\text{S}_\text{G}=\frac{30\;\text{miles}}{\frac{3}{2}\;\text{hours}}=30\times\frac{2}{3}=20\;\text{miles per hour}$$ $$20\;\text{miles per hour}=\text{S}_\text{C}-50\;\text{miles per hour}$$ $$20\;\text{miles per hour}+50\;\text{miles per hour}=\text{S}_\text{C}=70\;\text{miles per hour}$$ data sufficiency question from Magoosh, then review the video explanation.[/*][/list]Let us know how you did on these practice questions in the comments below. If you’re looking for more GMAT motion problems, try out one of Magoosh’s GMAT plans, which comes with practice tests, video lessons, and study schedules. Good luck!The post How to Solve GMAT Motion Problems appeared first on Magoosh Blog — GMAT® Exam.
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Magoosh GMAT Instructor
Joined: 28 Dec 2011
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 FROM Magoosh Blog: Everything You Need to Know about Getting an MBA An MBA, or a “Masters of Business Administration,” is a postgraduate degree achieved after an MBA candidate successfully goes through a business-focused program, usually lasting 1 to 2 years, and can be full-time or part-time. MBA programs are intended to better prepare you for business management skills and to make graduates more competitive in applying for leadership roles, or to crack into popular and high-paying industries, like tech, high-finance, and consulting. Check out our answers to frequently asked questions about the MBA below!What Is an MBA?What Are the Types of MBA Programs?[*]What Are the Benefits of an MBA?[*]What Do MBAs Cost?[*]How Hard Is an MBA?[*]Who Is an Ideal MBA Candidate?[*]How Do I Apply for MBA Programs?[*]When Should I Start Applying for an MBA?[/list]full-time and part-time MBA as both went through the same academic rigors.Online MBA ProgramsThis is the broadest category here, as “online MBAs” could very well be EMBAs, full-time or part-time. Generally, the feature is in the name: it’s online, rather than in-person, but there are some hybrids. Scholarships, as noted above, are more plentiful for full-time in-person programs. Your mileage here will vary depending on the university, as many programs have deep wells of experience in facilitating connections and learning online, but others are a little newer to the scene and adapting to the increasing trend to move online.We recommend asking an alumnus or alumna about their experience, especially since universities are, frankly, suspiciously non-critical about any drawbacks that may arise from an online experience over an in-person one. They could very well be a great option, but do your research, and try to aim for more recent information, as they have changed drastically since 2020 and social distancing forced them into the spotlight.Joint Degree ProgramsBest for those who have a more defined post-MBA career path, joint-degrees have an industry-focus or field-focus. For example, Stanford has joint degrees focusing on education and business, while Darden has MD/MBA programs for those who are studying to be trained doctors and who need business skills. Graduates tend to be younger (24 to 30) and prefer full-time studies, as this degree is meant to gain access into a certain field by combining studies and credentials.data on top-10 programs is abundant (hovering around $150,000 on average), but it’s a little more diffuse with other programs. Statistics for schools with lower rankings are less reliable but show an average of$50,000. That does not mean necessarily that the MBA world is bifurcated, but rather that there is a fairly broad spectrum. Also, it does mean that location matters and you should do your research on programs first based on fit, and then do digging into the benefits.[/list][*]Network – For many, this is the indisputable top benefit of an MBA course, which should definitely be weighed when considering online programs. You have access to an alumni network regardless (formally, through the university, and informally through shared bonds that are more likely to get you to connect with alumni in your chosen field).[/list][*]Higher employment rate – This is very program-specific, but generally, there is a higher chance of being employed consistently with an MBA. What is less clear, however, is the data behind their figures, which we’ll discuss a bit later here.[/list][*]Access to higher-paying roles – The highest-paying roles after graduation tend to be (in descending order of average pay): consulting, financial services, and tech. What is also interesting is that those who get an MBA have the biggest salary increases in these industries (again, in order): consulting, food/beverage, investment management, and private equity, averaging $40,000 higher salary per year after graduation.[/list]On their own websites, MBA programs also highlight tangential benefits like increased confidence, better personal financial management, time-management skills, and broader worldview, but the data they used to gather such insights tends to focus on the gains in the careers and skills of those who ultimately decided to get an MBA. In other words, for those that decided it was worth it, it ended up being worth it.What is missing from their research are the trajectories of those who decided on an MBA alternative, but those data are inherently hard to come by – as we don’t have a reliable A/B test to understand what would have happened had they gone a different route. That means that MBA programs say MBAs are worth it, but you should definitely dig deeper to make sure they’re right for you.average debt accumulated from an MBA course is near$100,000, and so, most students are in fact paying a steep price for the programs.Given the hefty tuition costs, you’re probably wondering if the MBA is truly worth it. That’s a topic for another post, but let’s just focus on the financial aspect of it. There are various rules of thumb for deciding this, but one that is fairly reasonable is this: the bump in compensation you expect in your first three years as an MBA graduate should cover the out-the-door cost of the MBA. For example, if you paid 160,000 for a full-time MBA, but your post-MBA salary went from 90,000 to 110,000, you very well might want to give it a long, hard look to see if it was worth the cost (160,000 – 20,000×3 > 0) – as you have a deficit of 100,000 and likely a high-interest student loan capping your appetite for career mobility in the meantime. Conversely, if your post-MBA salary was up from 90,000 to 150,000 with a 160,000 price tag, now you’re looking at a much stronger business case (160,000 – 60,000×3 < 0), as that salary is now covering more 20,000 more than the cost of the program itself.Rough math? Yes. Hard to calculate future salary? Of course! The key point to take away here is to think of the MBA as any savvy business person would: what is the probable ROI (return on investment) and what is the opportunity cost? In other words, ask yourself: will it be worth its cost, and what else could I be doing at the same time? You’ll also be spending at least a year on the degree itself and likely 100+ hours on the application itself, so time is also a consideration.and in 2020, which is when many professionals decide that they’d like to boost their credentials and skills during a time with more uncertainty. Acceptance rates for universities have gone down recently due to an influx of applicants, hovering around 5% for most top-10 programs, for example.short-list of schools, the easiest way to apply is to fill out the application online on the specific program’s website. Luckily, it appears that, while the details can change, the portal in which you’ll put your information is very similar across most colleges. In addition to your undergraduate degree and transcripts from your degrees (likely going back to high school), here are additional admissions requirements and their considerations:Two letters of reference: Please check the university itself for the format, but luckily this tends to be uniform: (1) describe your relationship to the candidate, and (2) how do they compare to their peers. You can probably tell that this has a distinct bias for managers. It may feel awkward to ask your current employer for a recommendation, so clients, former managers, and professors could also be options. You will then need to give the contact information for your recommenders, who will then be emailed a link to fill in a page with their letter and often to answer questions about your aptitude (on a score from 1-9, with 9 being the highest, for each indicator).GMAT/GRE score (or an Executive Assessment for EMBAS): Check the requirements for your program, as some schools will even accept “expired” GMAT scores (older than 5 years).TOEFL or IELTS score: If your undergrad was not taught in English, it’s likely that you’ll be required to provide a TOEFL or IELTS score. This is program-specific, and some have loosened their requirement to look at other representations of English ability.Admissions essays: The typical essays are “Why ____ program” and “Tell us about you,” but the recent trend has been for universities has been to ask more unique questions (see Duke’s “25 random things about yourself” essay, for example). There is also an “essay” asking for any additional information, which is an opportunity to talk about mitigating factors and other considerations but is not typically written in an essay-like way as the others. Most programs expect a simple bullet-point list for the “Anything else” essay.An application fee: Fees can range from $50 to$300 but the idea is that each application is given consideration and so this covers the university’s overhead. Be sure to look up the university’s “fee waiver” for which many program applicants can qualify.And the last thing you’ll need? Patience. For larger programs, it can take two or more months to hear back about interviews, but luckily their timelines are transparently communicated on their websites. It’s well worth it to first learn about programs, and then to mark the major dates in your calendar.need more time to increase your GMAT score. For the overwhelming majority of programs that begin in the Fall, your rough timeline is:Round 1 Deadlines: June to September of the preceding year (for example, a 2022 to 2023 program will close applications in Summer 2021). Start preparing your application in February.Round 2 Deadlines: December to February before the program (for example, a 2022 to 2023 program will close applications in the preceding Winter). Start preparing your application by September.Round 3 Deadlines: March to May of the same year (for example, a 2022 to 2023 program will close applications in Summer 2022). Start preparing your application in December.While we’re on the subject, you might be wondering in which round you should apply. That’s a tough question, but overall the rule is “the earlier, the better,” as Round 2 tends to have more applicants than Round 1 and more in Round 3 than 2. The tough situation in which many applicants find themselves is weighing between Round 3 of this year or Round 1 of next year. For that, we don’t have an easy answer, but the question you should ask yourself is: will my application be substantially better in three months?What You Need to Know about MBAs: A SummaryAn MBA can be valuable for your career, but it will likely come with a considerable price tag and 1-2 years of study (on top of around 3 months of preparation), so it’s well worth doing research and some serious introspection with the question: is this right for me? Also keep in mind that not all MBA programs are made the same, as there are degrees that may very well be more tailored to your career interests, or perhaps, frankly, none at all!If you’ve made it this far, congratulate yourself for doing research into what is right for you, and we wish you luck on whatever next steps you take. Let us know in the comments, are you planning on getting an MBA?The post Everything You Need to Know about Getting an MBA appeared first on Magoosh Blog — GMAT® Exam.
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How to Solve GMAT Motion Problems [#permalink]
 FROM Magoosh Blog: How to Solve GMAT Motion Problems Word Problems make up a majority of the quantitative section of the GMAT (almost 60 percent). Of the word problems they’ll face, students tend to need the most help with GMAT motion problems. This type of problem centers around the “dust” formula, which is short for Distance equals Speed multiplied by Time, or $$text{D}timestext{S}=text{T}$$. But there are many varieties of motion problem, and we will discuss techniques for each of them. At the end of this article, you’ll also find motion word problems with solutions for you to test your knowledge!The Distance Equation[/*][*]Multi-Segment Motion Problems[/*][*]Average Speed[/*][*]Multiple Traveler Questions[/*][*]Shrinking and Expanding Gaps[/*][*]Data Sufficiency[/*][*]GMAT Motion Problems Review: Practice Problems[/*][/list]Distance equals Speed multiplied by Time, or $$text{D}timestext{S}=text{T}$$. If you learn this basic equation well, you’ll be able to dust your math troubles away! (Insert rimshot.) We can rearrange this formula to determine that Speed is equal to Distance divided by Time.And Time is equal to Distance divided by Speed.Distance is the measurement of how far apart objects, people, or points are.Speed is the rate at which someone or something is traveling.Time is how long it takes to travel. Let’s demonstrate this. Walking at a constant rate of 160 meters per hour, Monroe can cross a bridge in 2 hours. What is the length of the bridge? Here, the length of the bridge is the distance Monroe must cross. Using Distance equals Speed multiplied by Time, we get: $$(160;text{meters per hour})times(2;text{hours})=320;text{meters}$$ Seems simple enough so far, right? Let’s check out a few more GMAT motion problems.Speed is equal to Distance divided by Time. Let’s take that a step further and talk about average speed. Average speed is defined as total distance traveled divided by the total time period spent traveling. This means that if you have a trip with multiple segments, you’ll want to take the sum of the distances of each segment and divide that by the sum of the times of each segment. Average speed captures the constant speed needed to travel the total distance in the total time. Let’s demonstrate this. Koki drove 16 miles in 10 minutes, and then drove an additional 6 miles in 5 minutes. What is Koki’s average speed for the entire trip in miles per hour?Click here for the answer and explanationWell, average speed is the total distance divided by the total time. $$text{D}_text{Total}=16;text{miles}+6;text{miles}=22;text{miles}$$ $$text{T}_text{Total}=10;text{minutes}+5;text{minutes}=15;text{minutes}$$ $$text{S}_text{Average}=frac{text{D}_text{Total}}{text{T}_text{Total}}$$ $$text{S}_text{Average}=frac{22;text{miles}}{15;text{minutes}}timesfrac{60;text{minutes}}{1;text{hour}}=88;text{miles per hour}$$ That’s straightforward enough, but what if we are not given any distances or times? It is possible to solve an average speed problem, even if all you are given are the different speeds in each segment of the trip. You might then think that average speed would just be the average of all of the speeds, but that is not correct. Let’s say that Nathaniel drove from Gwenville to Samton at an average speed of 24 miles per hour. He then drove the same route on the return trip back from Samton to Gwenville at an average speed of 36 miles per hour. If you were asked to find Nathaniel’s average speed, it would not just be 30 miles per hour (the average of 24 and 36).Click here to work through this problemTo see this, let’s go back to our MVP dust formula. Since there are two legs of the trip, we will have two equations. D1, S1, T1; D2, S2, T2. Because Nathaniel’s trip is a round trip, we can assume that D1and D2 are the same, so we will set both of them equal to D. $$text{D}_1=text{D}\text{S}_1=24;text{miles per hour}\text{T}_1=frac{D}{24;text{miles per hour}}$$ $$text{D}_2=text{D}\text{S}_2=36;text{miles per hour}\text{T}_2=frac{D}{36;text{miles per hour}}$$ $$text{D}_text{Total}=text{2D}$$ $$text{T}_text{Total}=frac{D}{24;text{miles per hour}}+frac{D}{36;text{miles per hour}}$$ $$text{S}_text{Average}=frac{text{D}_text{Total}}{text{T}_text{Total}}$$ $$text{S}_text{Average}=frac{text{2D}}{frac{D}{24;text{miles per hour}}+frac{D}{36;text{miles per hour}}}$$ We can factor a D out of this fraction. $$text{S}_text{Average}=frac{2}{frac{1}{24}+frac{1}{36}};text{miles per hour}$$ We can find a common denominator between 24 and 36. $$text{S}_text{Average}=frac{2}{frac{3}{72}+frac{2}{72}};text{miles per hour}$$ $$text{S}_text{Average}=frac{2}{frac{5}{72}};text{miles per hour}=frac{2}{1}timesfrac{72}{5}=frac{144}{5};text{miles per hour}=28.8;text{miles per hour}$$ In summary, whenever you want to find the average speed of a round trip, and you are given the two segment speeds, you can put it in the form $$text{S}_text{Average}=frac{text{2}}{frac{1}{text{S}_1}+frac{1}{text{S}_2}}$$. You can also use this formula to find one of the segment speeds, given the other segment speed and the average speed.diagram. Let’s say that a car and truck are moving in the same direction on the same highway. The truck is moving at 50 miles an hour, and the car is traveling at a constant speed. At 3 pm, the car is 30 miles behind the truck and at 4:30 pm, the car overtakes and passes the truck. What is the speed of the car?Click here for the answer and explanationThe car and truck are moving in the same direction, and the car is gaining on the truck. This means that the gap between the vehicles is shrinking and that the gap rate is the difference of the two vehicles’ respective speeds. $$text{S}_text{G}=text{S}_text{C}-text{S}_text{T}$$ The distance of the gap is initially 30 miles. $$text{D}=30;text{miles}$$ The time frame we are given for the closing of the gap is from 3 pm to 4:30 pm. $$text{T}=1.5;text{hours}=frac{3}{2};text{hours}$$ $$text{S}_text{G}=frac{text{D}}{text{T}}$$ $$text{S}_text{G}=frac{30;text{miles}}{frac{3}{2};text{hours}}=30timesfrac{2}{3}=20;text{miles per hour}$$ $$20;text{miles per hour}=text{S}_text{C}-50;text{miles per hour}$$ $$20;text{miles per hour}+50;text{miles per hour}=text{S}_text{C}=70;text{miles per hour}$$ data sufficiency question from Magoosh, then review the video explanation.[/list]Let us know how you did on these practice questions in the comments below. If you’re looking for more GMAT motion problems, try out one of Magoosh’s GMAT plans, which comes with practice tests, video lessons, and study schedules. Good luck!The post How to Solve GMAT Motion Problems appeared first on Magoosh Blog — GMAT® Exam.
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 FROM Magoosh Blog: Everything You Need to Know about Getting an MBA An MBA, or a “Masters of Business Administration,” is a postgraduate degree achieved after an MBA candidate successfully goes through a business-focused program, usually lasting 1 to 2 years, and can be full-time or part-time. MBA programs are intended to better prepare you for business management skills and to make graduates more competitive in applying for leadership roles, or to crack into popular and high-paying industries, like tech, high-finance, and consulting. Check out our answers to frequently asked questions about the MBA below!What Is an MBA?What Are the Types of MBA Programs?[*]What Are the Benefits of an MBA?[*]What Do MBAs Cost?[*]How Hard Is an MBA?[*]Who Is an Ideal MBA Candidate?[*]How Do I Apply for MBA Programs?[*]When Should I Start Applying for an MBA?[/list]full-time and part-time MBA as both went through the same academic rigors.Online MBA ProgramsThis is the broadest category here, as “online MBAs” could very well be EMBAs, full-time or part-time. Generally, the feature is in the name: it’s online, rather than in-person, but there are some hybrids. Scholarships, as noted above, are more plentiful for full-time in-person programs. Your mileage here will vary depending on the university, as many programs have deep wells of experience in facilitating connections and learning online, but others are a little newer to the scene and adapting to the increasing trend to move online.We recommend asking an alumnus or alumna about their experience, especially since universities are, frankly, suspiciously non-critical about any drawbacks that may arise from an online experience over an in-person one. They could very well be a great option, but do your research, and try to aim for more recent information, as they have changed drastically since 2020 and social distancing forced them into the spotlight.Joint Degree ProgramsBest for those who have a more defined post-MBA career path, joint-degrees have an industry-focus or field-focus. For example, Stanford has joint degrees focusing on education and business, while Darden has MD/MBA programs for those who are studying to be trained doctors and who need business skills. Graduates tend to be younger (24 to 30) and prefer full-time studies, as this degree is meant to gain access into a certain field by combining studies and credentials.data on top-10 programs is abundant (hovering around $150,000 on average), but it’s a little more diffuse with other programs. Statistics for schools with lower rankings are less reliable but show an average of$50,000. That does not mean necessarily that the MBA world is bifurcated, but rather that there is a fairly broad spectrum. Also, it does mean that location matters and you should do your research on programs first based on fit, and then do digging into the benefits.[/list][*]Network – For many, this is the indisputable top benefit of an MBA course, which should definitely be weighed when considering online programs. You have access to an alumni network regardless (formally, through the university, and informally through shared bonds that are more likely to get you to connect with alumni in your chosen field).[/list][*]Higher employment rate – This is very program-specific, but generally, there is a higher chance of being employed consistently with an MBA. What is less clear, however, is the data behind their figures, which we’ll discuss a bit later here.[/list][*]Access to higher-paying roles – The highest-paying roles after graduation tend to be (in descending order of average pay): consulting, financial services, and tech. What is also interesting is that those who get an MBA have the biggest salary increases in these industries (again, in order): consulting, food/beverage, investment management, and private equity, averaging $40,000 higher salary per year after graduation.[/list]On their own websites, MBA programs also highlight tangential benefits like increased confidence, better personal financial management, time-management skills, and broader worldview, but the data they used to gather such insights tends to focus on the gains in the careers and skills of those who ultimately decided to get an MBA. In other words, for those that decided it was worth it, it ended up being worth it.What is missing from their research are the trajectories of those who decided on an MBA alternative, but those data are inherently hard to come by – as we don’t have a reliable A/B test to understand what would have happened had they gone a different route. That means that MBA programs say MBAs are worth it, but you should definitely dig deeper to make sure they’re right for you.average debt accumulated from an MBA course is near$100,000, and so, most students are in fact paying a steep price for the programs.Given the hefty tuition costs, you’re probably wondering if the MBA is truly worth it. That’s a topic for another post, but let’s just focus on the financial aspect of it. There are various rules of thumb for deciding this, but one that is fairly reasonable is this: the bump in compensation you expect in your first three years as an MBA graduate should cover the out-the-door cost of the MBA. For example, if you paid 160,000 for a full-time MBA, but your post-MBA salary went from 90,000 to 110,000, you very well might want to give it a long, hard look to see if it was worth the cost (160,000 – 20,000×3 > 0) – as you have a deficit of 100,000 and likely a high-interest student loan capping your appetite for career mobility in the meantime. Conversely, if your post-MBA salary was up from 90,000 to 150,000 with a 160,000 price tag, now you’re looking at a much stronger business case (160,000 – 60,000×3 < 0), as that salary is now covering more 20,000 more than the cost of the program itself.Rough math? Yes. Hard to calculate future salary? Of course! The key point to take away here is to think of the MBA as any savvy business person would: what is the probable ROI (return on investment) and what is the opportunity cost? In other words, ask yourself: will it be worth its cost, and what else could I be doing at the same time? You’ll also be spending at least a year on the degree itself and likely 100+ hours on the application itself, so time is also a consideration.and in 2020, which is when many professionals decide that they’d like to boost their credentials and skills during a time with more uncertainty. Acceptance rates for universities have gone down recently due to an influx of applicants, hovering around 5% for most top-10 programs, for example.short-list of schools, the easiest way to apply is to fill out the application online on the specific program’s website. Luckily, it appears that, while the details can change, the portal in which you’ll put your information is very similar across most colleges. In addition to your undergraduate degree and transcripts from your degrees (likely going back to high school), here are additional admissions requirements and their considerations:Two letters of reference: Please check the university itself for the format, but luckily this tends to be uniform: (1) describe your relationship to the candidate, and (2) how do they compare to their peers. You can probably tell that this has a distinct bias for managers. It may feel awkward to ask your current employer for a recommendation, so clients, former managers, and professors could also be options. You will then need to give the contact information for your recommenders, who will then be emailed a link to fill in a page with their letter and often to answer questions about your aptitude (on a score from 1-9, with 9 being the highest, for each indicator).GMAT/GRE score (or an Executive Assessment for EMBAS): Check the requirements for your program, as some schools will even accept “expired” GMAT scores (older than 5 years).TOEFL or IELTS score: If your undergrad was not taught in English, it’s likely that you’ll be required to provide a TOEFL or IELTS score. This is program-specific, and some have loosened their requirement to look at other representations of English ability.Admissions essays: The typical essays are “Why ____ program” and “Tell us about you,” but the recent trend has been for universities has been to ask more unique questions (see Duke’s “25 random things about yourself” essay, for example). There is also an “essay” asking for any additional information, which is an opportunity to talk about mitigating factors and other considerations but is not typically written in an essay-like way as the others. Most programs expect a simple bullet-point list for the “Anything else” essay.An application fee: Fees can range from $50 to$300 but the idea is that each application is given consideration and so this covers the university’s overhead. Be sure to look up the university’s “fee waiver” for which many program applicants can qualify.And the last thing you’ll need? Patience. For larger programs, it can take two or more months to hear back about interviews, but luckily their timelines are transparently communicated on their websites. It’s well worth it to first learn about programs, and then to mark the major dates in your calendar.need more time to increase your GMAT score. For the overwhelming majority of programs that begin in the Fall, your rough timeline is:Round 1 Deadlines: June to September of the preceding year (for example, a 2022 to 2023 program will close applications in Summer 2021). Start preparing your application in February.Round 2 Deadlines: December to February before the program (for example, a 2022 to 2023 program will close applications in the preceding Winter). Start preparing your application by September.Round 3 Deadlines: March to May of the same year (for example, a 2022 to 2023 program will close applications in Summer 2022). Start preparing your application in December.While we’re on the subject, you might be wondering in which round you should apply. That’s a tough question, but overall the rule is “the earlier, the better,” as Round 2 tends to have more applicants than Round 1 and more in Round 3 than 2. The tough situation in which many applicants find themselves is weighing between Round 3 of this year or Round 1 of next year. For that, we don’t have an easy answer, but the question you should ask yourself is: will my application be substantially better in three months?What You Need to Know about MBAs: A SummaryAn MBA can be valuable for your career, but it will likely come with a considerable price tag and 1-2 years of study (on top of around 3 months of preparation), so it’s well worth doing research and some serious introspection with the question: is this right for me? Also keep in mind that not all MBA programs are made the same, as there are degrees that may very well be more tailored to your career interests, or perhaps, frankly, none at all!If you’ve made it this far, congratulate yourself for doing research into what is right for you, and we wish you luck on whatever next steps you take. Let us know in the comments, are you planning on getting an MBA?The post Everything You Need to Know about Getting an MBA appeared first on Magoosh Blog — GMAT® Exam.
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
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Is an MBA Worth It? [#permalink]
 FROM Magoosh Blog: Is an MBA Worth It? Is an MBA worth it? Right now, most traditional MBAs aren’t. But some MBAs still are, depending on your situation. With that in mind, there are a lot of factors to consider before you completely write off doing a Master of Business Administration.MBAs are traditionally positioned as degrees that better prepare you for business management skills and that make graduates more competitive in applying for leadership roles, or to crack into popular and high-paying industries, like tech, high-finance, and consulting.However, there’s a recent declining interest in MBAs, even as applicant numbers are rising with economic stress. The main concern is that they aren’t able to keep pace with technological innovations that are changing the way businesses run. Beyond that, costs for traditional programs can be high—we’re talking hundreds of thousands of dollars.So, with all that in mind, the real question we should be asking is…which MBA programs are worth it? Which MBA Programs Are Worth it?Before you can know whether an MBA is worth it, you need to ask: what does an MBA get you? As we detail extensively in our general post about MBAs, here are the commonly cited benefits:Coursework and skills developmentHigher income potential/earning powerNetworking opportunitiesHigher employment rateAccess to higher-paying rolesBut the fact is that not all of these benefits are still true, particularly during the COVID-19 pandemic. If you choose a program that’s not right for you, you may end up on the losing side of the risk/reward equation. After all, not all MBA programs are made the same, as there are degrees that may very well be more tailored to your career interests, or perhaps, frankly, none at all!Here’s the rundown on the pros and cons of different MBA programs right now, as well as who they might be worth it for.The Value of a Full-Time MBAA full-time MBA generally is crafted for those with 2+ years of post-bachelor’s work experience. These are the traditional MBAs that most people picture, involving coursework guided by a core curriculum, team capstones, and an MBA thesis supported by faculty. Full-time MBA programs are typically two years, but sometimes the two-year curriculum is squeezed into one-year programs, making for a much more intense experience.In 2021, a full-time MBA may not have the same weight as it did even two years ago. We’re not living in normal times. You won’t be able to count on a lot of the benefits of a traditional full-time MBA program for your career, given the economic uncertainty that’s accompanying the pandemic and the resulting rise in applicants. It’s hard to say what the hiring process will look like for professionals a year from now.Also, given that most traditional MBA programs aren’t meeting in-person due to the COVID-19 pandemic, the huge price tag that comes attached means that you’re getting a lot less value than you normally would. No in-person classes, far less networking, scarce internship opportunities…There are a few exceptions, of course. Two big factors to take into consideration are rankings and scholarships A top business school degree (think: Harvard, Wharton) will almost always be an asset, coming with huge opportunities and higher earning potential, even in a terrible job market. And if you can offset the price with scholarships, the math just might add up.That’s not snobbery—it’s based on data. And the data on top-10 programs is abundant (average MBA salaries hovering around $173,860 on average), but it’s a little more diffuse with other programs. When looking at all MBA programs, the average falls sharply to$106,757. And keep in mind that’s the average across all programs; it’s weighted by those higher salaries from top-10 graduates.The Value of a Joint-degree MBAJoint-degree programs typically combine the traditional MBA with a traditional program in another field, such as an MD or Master in Public Policy, to allow candidates to build expertise at the intersection of business and the other field in question. Joint-degrees typically last the same amount of time minus one year of the combined length of the programs. Because joint-degrees are more expensive than the traditional MBA alone, the cost-benefit analysis is arguably more critical, especially in these times.In general, joint-degree programs are best for those who have a more defined post-MBA career path. It may also be worth it if you can find a prestigious fellowship (ahem) or scholarship to offset the cost.The Value of a Part-Time MBAAlthough part-time MBAs lack many of the networking benefits of a full-time MBA and it’s hard to qualify for a grant or scholarship for these programs, they do provide access to some alumni networks and on paper (i.e. your CV), there is virtually no difference between a part-time and full-time MBA. A part-time MBA is worth it for those who need the degree itself for a particular purpose, such as getting a promotion in their current company, and can take on the financial burden without going into significant debt.The Value of Online MBA ProgramsAlthough there could be an argument for ALL MBA programs qualifying as online MBA programs these days, true online MBA programs are meant to be conducted in an online setting. Whether an online MBA is worth it depends entirely on the program itself in terms of the education and opportunities it offers you. This option is most valuable to students who need flexibility and are assured of their program’s quality and offerings. If you’re considering getting an online MBA, make sure to connect with alumni, as rankings can only tell you so much in the new landscape. Is an MBA Worth It? A SummaryAny MBA program is a big investment. Here’s when they’re worth it:Traditional MBA: You get into one of the top schools and scholarships absorb some of the costJoint MBA program: You have a particular career goal in mind that requires both degreesPart-time MBA: You need the degree for a specific reason that does not rely on networking or recruiting opportunitiesOnline MBA: You need a flexible option and can verify that the program is well-adapted to online platformOf course, earnings potential isn’t the only benefit of an MBA. On their own websites, MBA programs also highlight tangential benefits like increased confidence, better personal financial management, time-management skills, and broader worldview, but the data they used to gather such insights tends to focus on the gains in the careers and skills of those who ultimately decided to get an MBA. In other words, for those that decided it was worth it, it ended up being worth it.What is missing from their research are the trajectories of those who decided on an MBA alternative, but those data are inherently hard to come by – as we don’t have a reliable A/B test to understand what would have happened had they gone a different route. That means that MBA programs say MBAs are worth it, but you should definitely dig deeper to make sure they’re right for you.The post Is an MBA Worth It? appeared first on Magoosh Blog — GMAT® Exam.
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GMAT Fee Waiver: How to Apply [#permalink]
 FROM Magoosh Blog: GMAT Fee Waiver: How to Apply The GMAT can be a pricey test. In the United States, it costs $275 for the exam alone (though it’s less in other locations, like the$250 India GMAT fee). If this isn’t in your budget, you do have options—primarily getting a GMAT fee waiver. We’ll take a look at what GMAT fee waivers are and what they cover, how to get one, and how to use them.What are GMAT fee waivers?[/*][*]How do I get a fee waiver for GMAT?[/*][*]Which business schools accept GMAT fee waivers?[/*][*]How do I use my fee waiver?[/*][/list]GMAT exam cost. In other words, they let you take the exam for a reduced price or even for free.Because students apply to their schools, not the GMAC (the Graduate Management Admission Council, AKA the the test-maker) for these waivers, it’s your school that ultimately decides how much of the fee gets waived.As you look for ways to reduce GMAT costs, keep in mind that a GMAT fee waiver is different from other types of waivers!A GMAT waiver, for example, is something that B-school admissions committees use. This type of waiver lets the program admit you even if you’ve skipped the test altogether. Almost always, adcoms have policies about this type of waiver, based on professional experience (work experience), educational history, or other criteria.Similarly, a waived application fee also comes from the schools you’re applying to. Each MBA program will have its own criteria for application fee waivers, so contact them directly. Finally, a waived rescheduling fee is a fee you don’t have to pay when you change your GMAT test date. The GMAC has waived some of these fees during the COVID-19 pandemic and may consider others on a case-by-case basis.  DANTES (Defense Activity for Non-Traditional Education Support) reimbursement.This only includes the test fee itself. It won’t pay off late fees, rescheduling fees, or other associated costs.You’ll also have to pay the money up-front yourself and then apply for DANTES reimbursement after you take the test. You need both your receipt and your results to get paid back. Make sure to apply within 90 days of your test date by submitting an online request.For military veterans, the GI Bill will reimburse you for the cost of one test.Note that GRE waivers are also available, which some MBA programs will accept.GMAT Fee Waivers and Covid-19While lots of business schools have adjusted to the COVID-19 pandemic, one part remains the same: the fee waiver program. This hasn’t been expanded or changed as of right now.However, the good news is that 38% of MBA programs responding to the GMAC’s survey have reduced or removed application fees, so you may still end up saving money during the application process.  University of Arkansas at Little Rock[*]Eastern Illinois University[*]University of North Dakota[*]University of Rhode Island[*]SUNY Polytechnic Institute[*]Cal State LA[/list]  GMAT Fee Waiver: How to Apply appeared first on Magoosh Blog — GMAT® Exam.
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GMAT Registration | How to Register for the GMAT [#permalink]
 FROM Magoosh Blog: GMAT Registration | How to Register for the GMAT You’ve decided to take the next step in your career and go to business school. Congratulations! Now, down to brass tacks: GMAT registration. From ID to fees, here’s everything you need to know about how to register for the GMAT!How do I register for the GMAT?[/*][*]How much is the GMAT registration fee?[/*][*]How many days before should I register for the GMAT?[/*][*]What happens after I register for the GMAT?[/*][/list]GMAC’s “Create Your Account” page to get started. Once that’s done, you’ll have the ability to browse and pick your GMAT location and see your options for GMAT dates.[/*][*]If you’re requesting GMAT accommodations, follow this process—you’ll need to get approval before registering. For any questions, email testingaccommodations@gmac.com or call customer service toll-free +1-800-717-GMAT.[/*][/list][/*][*]Next, find a GMAT test center or prepare for the at-home online GMAT. (For GMAT registrations in early 2021, check here for the latest information). To find a GMAT location near you, use the GMAT’s official test center search page. And remember, the farther in advance you book your GMAT, the more options you’ll have for both GMAT locations and GMAT dates.[/*][*]Once you are registered to take the GMAT and know your GMAT test center location, you’re ready to actually select your GMAT test date. Note that you have to pick a date and time to complete your GMAT test registration. Log in to your GMAT account and follow the on-screen instructions.[/*][/list]GMAT Registration ChecklistFor GMAT exam registration, you’ll need to give the following info on the GMAT appointment scheduling form:Full name (this needs to match the name on your ID exactly, so have your passport handy! EmailMailing addressPhoneGenderDate of birthNationalityCredit card or debit card (VISA, Mastercard, American Express, or Discover)If you don’t have or don’t want to use a credit/debit card, you can also pay the fee by money order or personal check; follow the instructions here.You’ll also have the option of entering your education history, your employment history, and your native language, but these aren’t mandatory parts of GMAT registration.How many times can I sign up for the exam?You can only be registered for one GMAT administration at a time. In other words, even if you’re planning on retaking the exam, you’ll need to schedule your second GMAT registration after you take the first test. Yes, that means you’ll need to pay the GMAT exam registration fees again, too.There’s also a limit to how many times you can take the GMAT in a single calendar year: 5 times. Once you’ve reached your GMAT registration attempt limit, you will have to wait for next year.Finally, keep in mind that you’ll need to have a 16-day gap between official GMAT exams.  India, Africa, the Middle East, Asia Pacific and most of the world is $250 (USD), but that price can differ in the USA, Canada, and Europe—see our article “How Much Does the GMAT Cost?” for details. GMAT handbook from the Graduate Management Admission Council to get your bearings. If you haven’t already started studying, or if you need help organizing your schedule, Magoosh’s GMAT study plans can help get you where you need to be. Or dive right into a GMAT practice test to see how your current skills measure up and where you need to improve before your test day!The post GMAT Registration | How to Register for the GMAT appeared first on Magoosh Blog — GMAT® Exam. This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB Magoosh GMAT Instructor Joined: 28 Dec 2011 Posts: 4459 Own Kudos [?]: 28644 [0] Given Kudos: 130 How to Tackle Critical Reading Assumption Questions [#permalink] Expert Reply  FROM Magoosh Blog: How to Tackle Critical Reading Assumption Questions Assumption questions ask you to find the unstated link between a question’s premise and its conclusion. Assumptions are crucial in understanding and refuting arguments, so they play a large role in two major Critical Reasoning question types. In this post, we’ll cover GMAT Critical Reasoning tips and practice questions to help you tackle assumption questions.GMAT Critical Reasoning Tips: How to Tackle Assumption QuestionsLuckily, arguments on GMAT Critical Reasoning questions are relatively formulaic, so let’s go over the basics first:A premise is the starting point of the argument.The conclusion is what the author wants you to believe by the end of the argument.The assumption is the missing link between the premise and conclusion. Think of it like the linchpin holding the whole thing together. You can strengthen an argument by validating its assumption, or weaken the argument by denying the assumption.Assumption questions will usually ask you, “Which would most strengthen the argument?” or “Which of the following would most weaken the argument?” (the latter is one of the most common on Critical Reasoning).Make Your Assumption a General StatementThis is a crucial point to remember: assumptions are most often general statements, not specific statements. When you identify the assumption, you can omit any specific people, places, or items mentioned.If my premise is “Fred has quality A,” and my conclusion is “Therefore, Fred has quality B,” Fred is a specific person that we can omit (sorry, Fred). The assumption would be something like “most/all folks who have quality A also have quality B.”Identify the AssumptionIsolating an assumption is an important skill and one of our favorite GMAT Critical Reasoning tips. Let’s try it with this argument:Hawaii is a place with beautiful scenery. Therefore, people there must have trouble concentrating for any length of time at all.The premise is “Hawaii is a place with beautiful scenery.” (We can safely assume that at least 99 out of a hundred people would agree with that!) Hawaii is the specific, so you can omit that—the final premise has to do with a “place with beautiful scenery.”The conclusion is “trouble concentrating.”The assumption must provide a link. If we put those together with a strong logical connection, we get this assumption: “People in places with beautiful scenery generally have trouble concentrating.” Even though it’s a little absurd, that’s a possible way to state the assumption!It would most strengthen this argument if one could somehow provide data or evidence supporting this assumption. This argument would be weakened if we could cite data or evidence that directly contradicts the assumption.Now, consider an argument you’re more likely to see on the GMAT:Of all the companies in the steel industry in the last six months, only Amalgamated Ferric Industry (AFI) has tripled their advertising expenditures. No other steel company has increased advertising nearly that much. Therefore, in the coming months, we should see AFI gaining new customers at a rate that outpaces all its competitors.If we drop the specifics, the premise is about increasing spending on advertising, and the conclusion is: more new customers. An assumption would link these.A very broad assumption: “Companies that increase what they spend on advertising generally see an increase in new customers.”A slightly more specific assumption: “When companies in the steel industry increase advertising, this generally results in more new customers.”This is a relatively poor argument, and if we were asked for a statement to weaken it, the best choice would be something that zeroed in on the assumption. For example, something like Studies of companies in the steel industry show little correlation between advertising dollars and new customers strikes right at the center of the argument.Use the Negation Test to Verify the AssumptionIf you want to verify that your assumption is really the correct one, you can use the Negation Test—put simply, try negating the statement and seeing if the conclusion is still true. If you haven’t tried the Negation Test yet (another of our key GMAT Critical Reasoning tips!), then I would definitely recommend checking out our post and studying this powerful technique for isolating assumptions of arguments.Practice Questions and ExplanationsProf. Hernandez’s monumental work The History of Central America covers everything about the region from the origin of the Mesoamerican period to the end of the Cold War. While the book has several informative maps and charts, many of the chapters spend less time describing facts and more time explaining Prof. Hernandez’s theories. Indeed, the last two chapters consist exclusively of his exposition of theory of the role of Central America in post WWII world politics. Therefore, properly speaking, this book is not a history book.1. Which of the following is an assumption that supports drawing the conclusion above from the reasons given for that conclusion? (A) Some history books consist almost exclusively of catalogues of historical facts. (B) Different historians have different understanding of the relative importance between facts and theories within the study of history. (C) Historians should be more explicit than most are now about the theoretical framework with which they write. (D) History as a discipline is concerned only with historical facts, not with the theoretical explanations of those facts. (E) Most books that present a wealth of historical facts include maps and charts as well.Click here for the answer and video explanation!In the twentieth century, the visual arts have embarked on major experimentation, from cubism to expressionism. While tastes always vary, there are certainly some people who find beautiful objects of each of the art movements of the first half of the twentieth century. In the latter half of the twentieth century, though, most works are so abstract or shocking that neither the critic nor the general public uses the word “beautiful” to describe them: indeed, sometimes late twentieth-century artists have, as one of their expressed goals, the creation of a work that no one could find beautiful. Whatever these artists are creating may be intellectually engaging at some level, but it is no longer art.2. Which of the following is an assumption that supports drawing the conclusion above from the reasons given for that conclusion? (A) Art critics generally have a different appraisal of a work of art than does the general public. (B) The meaning of any work of art is defined entirely by the ideas of the artist who created it. (C) Beauty is a defining quality of art. (D) All art movements of the latter half of the twentieth century are responses to the movements of the first half of the century. (E) It is not possible for any work to be simultaneously beautiful and intellectually engaging.Click here for the answer and video explanation!Most people can gain vitamin C from fruits such as oranges and cantaloupes. People with Laestrygonian Disease have weakened digestive systems that cannot digest fruit or vitamin supplements. The easiest foods for these people to digest are grains such as rice and barley. Regular intake of vitamin C would be extremely beneficial to those who suffer from Laestrygonian Disease, so scientists have figured out a way to create “fortified rice” by infusing rice with high doses of vitamin C. This fortified rice will provide great benefit to those with Laestrygonian Disease.3. Which one of the following is an assumption on which the conclusion depends? (A) Eventually, this fortified rice will be the optimal way for most people to have a regular intake of vitamin C. (B) The problems that folks with Laestrygonian Disease have digesting fruit are different from their problems digesting vitamin supplements. (C) People with Laestrygonian Disease will not be unable to assimilate the form of vitamin C that is present in the fortified rice. (D) Only people whose diets consist largely of grains would be able to derive benefit from the vitamin C in the fortified rice. (E) Vitamin C is the only nutrient which can be infused into rice in such high quantities without compromising the nutritional integrity of the vitamin.Click here for the answer and text explanationIf folks with Laestrygonian Disease cannot assimilate the Vitamin C in the rice, then it won’t help them, and eating the fortified rice will not provide them any particular benefit. If we negate this option, it shatters the argument. This is a true assumption.(A) This may be true, although I am skeptical that any human-made improved food would be better than the fruits designed by Nature! Regardless, whether this is true or not does not have any bearing on how helpful the fortified rice will be for the folks with Laestrygonian Disease. This option is incorrect.(B) This is intriguing. Let’s negate this. Suppose it were the exact same problem, say, the exact same missing enzyme, that made it impossible to digest both fruit and vitamin supplements. Then what? Would that mean they also couldn’t digest the fortified rice, or get the vitamin C they need from it? We cannot say. It’s conceivable that the argument could still work, so negating this does not destroy the argument. This is not an assumption.(D) Let’s negate this. Suppose the fortified rice benefits everyone—even the no-carbs fanatic who hasn’t touched carbs in a decade: even when this person breaks his carb-fast and has the fortified rice, he has benefit from it. What then? Whether these other people benefit or not from the fortified rice has no bearing on whether it helps the folks with Laestrygonian Disease. This choice is incorrect.(E) Let’s negate this. Suppose we can infused dozens of other vitamins and minerals into the rice, all with high nutritional yield. That would only be good for the folks with Laestrygonian Disease—the more vitamins, the better! It certainly would not impact whether these folks derived any benefit from the vitamin C in the rice. This choice is incorrect.The answer is (C).Final ThoughtsAssumption questions will require you to read closely, but with practice you can identify the missing link. For more GMAT Critical Reasoning tips, check out our introduction to the CR section.The post How to Tackle Critical Reading Assumption Questions appeared first on Magoosh Blog — GMAT® Exam. This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB Magoosh GMAT Instructor Joined: 28 Dec 2011 Posts: 4459 Own Kudos [?]: 28644 [0] Given Kudos: 130 The Best GMAT Prep Courses: 2021 Edition with Comparison Charts [#permalink] Expert Reply  FROM Magoosh Blog: The Best GMAT Prep Courses: 2021 Edition with Comparison Charts Choosing the best GMAT prep course, like choosing a business school, is all about what works best for you as an individual. There is no objectively ‘best’ course that is right for everyone, but there are eight GMAT courses that should be on your radar in deciding which option suits your needs. One way to choose a course is to attend a free session or engage with some free material to see what suits you best.To make your decision, you’ll have to consider your learning style, and which course elements—from price to score guarantees—matter most to you. Don’t worry. We’ve done the hard work for you and have broken down the pros and cons of what we consider the eight best GMAT online prep courses.Magoosh$249 (get 10% off here!)$110 per hour50+ score improvement guarantee1,300+ practice questions and two practice tests. Subscribers get a 40% discount on GMATOfficial Practice ExamsOne-year access Princeton Review$799$167 an hour 620+ starting score required to be eligible for the guarantee of a 700+ score3,000+ practice problems and 10 practice testsFour-month access Target Test Prep$99 per month to $399 for 6 months access$300 per hourScore improvement guarantee only applies to your quantitative score3,000+ practice questionsOne-month to four-month access Manhattan Prep$549$225 per hourN/A1,100+ questionsand six practice testsSix-month access Kaplan$599 -$799$2,499 for 10 hoursScore improvement guarantee5,000+ questions and nine practice testsSix-month access PrepScholar$2594 hours of tutoring from $799 60+ score guarantee Access to 1,000+ questions and4 practice testsOne-month to four-month access e-GMAT$349N/AN/A4,500+ questions and five practice testsSix-month access Veritas Prep$699$2,650 for 10 hours 50+ score improvement guarantee5,000+ questions and 12 practice testsOne-year accessbest GMAT books lists.Pros:Materials are engaging and tutors have a reputation for dynamic and entertaining lessons.You get access to a discussion forum to delve into GMAT topics.Cons:There is no score guarantee.Practice tests are known for being slightly more difficult than the GMAT itself. This could be a pro or a con depending on what motivates you. computer adaptive practice tests[/list]ReviewPrepScholar’s GMAT prep course is designed around personalization. Students take a diagnostic test upfront, and their proprietary algorithm works to create a custom study plan. You can also see which skills you have mastered and which you still need to work on on your student dashboard.Pros:The personalized curriculum is perfect for those studying under time pressure.There is a 60+ score guarantee—the most impressive of our ranked GMAT test prep courses. Note that you can only use an official test as a baseline.Cons: PrepScholar does not have as many practice questions as its competitors. To be fair though, few students get through all the practice questions on offer, in addition to those in the Official guide.Your access period for PrepScholar is well below those of competitors—you get only four months of access for their flagship Completely Customised Online GMAT Prep course.GMAT idioms flashcards app from Magoosh gives you all the most tested idioms specific to the GMAT, in an easy-to-learn flashcard format.Speaking of easy-to-learn flashcard formats, the Magoosh Math flashcards give you an overview of all the GMAT math rules. While math is very much about practice, these flashcards make the general rules that you’ll need for Data Sufficiency more explicit and easier to remember.If you are looking for a mental math workout before the test, look no further than the Math Tricks app and Calculator: The game app which allow you to practice the mental math tricks that can speed up your problem-solving in the GMAT. While these are not GMAT apps per se, they will help you to solve mental math problems more quickly and creatively.The Wiley Efficient Learning mobile app also needs a mention as a must-have GMAT app. It is essentially a more portable version of the Official Guide. It will give you access to the same Official Guide Questions in the book and online question bank, just on the go. What materials should I use in my GMAT prep?Show AnswerYou’ll want to get a copy of the GMAC Official guide so you can practice with real GMAT questions. But you’ll also need some guidance on how to answer the questions. For insights, tools, and strategies, you should get hold of some kind of GMAT prep books or courses. Don’t underestimate the usefulness of a GMAT study schedule. Learn how to build your own GMAT study schedule to keep yourself motivated and accountable.Remember the best GMAT prep materials are the ones that work best for you. Part of the emphasis on practice is to get a sense of what works for you. Everyone is slightly different in their approach so experiment while you are practicing to adapt generic strategies to your benefit.Whichever method of study you choose, try not to get too bogged down in the theory. Don’t learn the theory in isolation without considering how the GMAT tests different concepts. The GMAT is all about practice—and gaining as much insight into the test and the question types as you can from each question you practice.In your first phase of studying you might find it useful not to focus too heavily on timing. Rather, learn the concepts at your own pace. Once you have a good idea of how to answer questions you can introduce timing in the second phase. Lastly, you should have practiced a number of mock tests before you take the GMAT to get a feel of the test, build up stamina and see what checks and balances you can introduce to improve your score. These are our top picks for the best GMAT online prep courses! Like we mentioned earlier, the best GMAT prep course may vary greatly depending on your study style, strengths and weaknesses, and even your reason for taking the GMAT. Nevertheless, we hope this list can help you decide which prep course or study method works best for you. Good luck! The post The Best GMAT Prep Courses: 2021 Edition with Comparison Charts appeared first on Magoosh Blog — GMAT® Exam.
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