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NYU Stern-Langone Fall 2010

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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 02 Jul 2010, 07:43
I was hoping for some help with this problem from the quantitative practice set. Here is the problem...

The Go-Go Bus Line provides rides between New York and Boston. The bus line carries 18,000 passengers per month, each paying $50 for round trip. The company wants to raise the fare. However, the market research department estimates that for each $1 increase in fare, the bus line will lose 200 passengers per month. The total monthly cost of the bus line is $950,000.

What is the profit function f(x), where x is the dollar amount of increase in fare?

Since this is in the practice set the answer is also available just below. The answer is....

f(x) = (50 + x)(18,000 - 200x) - 950,000 = - 200x^2 + 8,000x - 50,000

So how is that function derived? Is that a standard formula? Yes, after testing it at a few points I could see that it works. However, I could not come up with that formula before looking at the answer. While working through it, I was very tempted to make a "revenue" term and "cost" term, which would have necessitated the introduction of a new variable (p, for passangers). Long story short, I was obviously on the wrong track there.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 02 Jul 2010, 07:49
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drsparnum wrote:
I was hoping for some help with this problem from the quantitative practice set. Here is the problem...

The Go-Go Bus Line provides rides between New York and Boston. The bus line carries 18,000 passengers per month, each paying $50 for round trip. The company wants to raise the fare. However, the market research department estimates that for each $1 increase in fare, the bus line will lose 200 passengers per month. The total monthly cost of the bus line is $950,000.

What is the profit function f(x), where x is the dollar amount of increase in fare?

Since this is in the practice set the answer is also available just below. The answer is....

f(x) = (50 + x)(18,000 - 200x) - 950,000 = - 200x^2 + 8,000x - 50,000

So how is that function derived? Is that a standard formula? Yes, after testing it at a few points I could see that it works. However, I could not come up with that formula before looking at the answer. While working through it, I was very tempted to make a "revenue" term and "cost" term, which would have necessitated the introduction of a new variable (p, for passangers). Long story short, I was obviously on the wrong track there.


Not a standard formula - it's just derived from the question... profit is the revenue minus the cost of the bus... so you multiply the ticket price times number of passengers, and subtract cost. Think of doing the calculation without a variable fare... then you have to modify to allow for x... I'm sure this doesn't answer your question fully... but a quick half-response :)
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 02 Jul 2010, 09:56
That is actually quite helpful TtotheP. Thanks.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 03 Jul 2010, 08:44
Hey guys, I was hoping someone could shed some light on course scheduling options. I got accepted for the weekend program and I would like to complete the courses as fast as possible in around 2 years' time. Now, do I have to take 9 credit in the fall (and therefore ask for approval etc) in order to accomplish this? Maybe I'm being slow but I haven't fully understood the course scheduling. I would really appreciate if someone could clarify! Thanks!
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 03 Jul 2010, 09:26
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Hi Nick:
If you are going only weekends I don't believe you can accelerate unless you take additional courses on a weeknights (offered from 6-9 on Mon, Tues, Wed or Thurs). Weekend courses (except for intensives) are only offered on Saturdays either from 9-12 or 1-4. SO going strictly on weekends you can't take more than 6 credits (2 classes) during a regular semester. Additionally, I think you need permission to take more than 6 credits your first semester anyway. Classes are generally 3 credits each, some electives and a few of the core classes (strategy, etc.) taken during intensive periods are 1.5. You need 60 credits to graduate. SO I think going only weekends and taking classes during Jan and summer sessions starting in the Fall you would likely hit 60 credits to graduate in May 2013.
I am a Westchester student. If you go on the new student tour and join the fb group I know there is at least one weekend student answering posts, she would have more info. Hope this helps.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 04 Jul 2010, 09:29
Passed the Quant assessment with 95%!! A lot easier that I expected, especially the fact that it's not timed :-))
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 05 Jul 2010, 07:07
langone 2009.

Did you waive any courses by testing out? Do you recommend against it? What are things to consider in that decision considering the only adavantage is that you get to take three additional credits. It has no cost advantage in terms of you don't get the three credits.

And decision time red 1 vs red 2.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 05 Jul 2010, 07:25
Hi Beebu:
I did not waive out of any classes (I was pure liberal arts undergrad), but I am all for it. It is a waste of your time and money to take a class where you won't be learning anything. The core classes ar really geared for people who have little to no experience (either through undergrad, grad or work) with the subject matters. If you waive out you get to electives sooner and the electives are great. The only reason not to waive out of a core class is if you think you want to apply to be a TA at some point, you need to have taken the class you will TA for.
I don't know what you mean by decision time "Red 1 vs red 2".
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Schools: NYU Stern
Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 05 Jul 2010, 08:01
Regarding Core groups RED 1 or RED 2, I have a similiar question.

Right now I am leanning toward RED 1. Don't know if any current students could provide any insight on which course/professor is good to choose. Or they are pretty much the same?

Thanks

http://w4.stern.nyu.edu/registrar/sched ... llPT1.html
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 05 Jul 2010, 10:27
hi everyone,
i know the gmat score plays an important role in the application process.i wonder how important the recommendations will be in the application process from the scale of 1 to 10 (10 is very important). my target school is NYU stern. please comment!
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 04:32
tt11234 wrote:
hi everyone,
i know the gmat score plays an important role in the application process.i wonder how important the recommendations will be in the application process from the scale of 1 to 10 (10 is very important). my target school is NYU stern. please comment!


tt11234 -

As I am beginning to look at the admissions it looks like not one factor is decisive in admission. My take on recommendations is if you do not have atleast a neutral recommendation (non negative / lack of recommendation) it would be hard to qualify as a decent application.

And within positive recommendations, the person providing the recommendation carries more weight. An ok recommendation from the vice president of a fortune 500 company or a big donor might carry more weight than a very pleasing recommendation from your unemployed room mate.

Also I assume a recommendation for full time vs part time can carry different weights.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 07:44
Just out of curiousity, anyone know the penalty for not passing the quantitative assessment, I couldn't find anything about it on the Stern Site.
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Schools: NYU Stern
Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 08:06
You will have to go to some tutoring/class. That is stated in the tour.

Do not worry, it it hard to not pass.



ph69917 wrote:
Just out of curiousity, anyone know the penalty for not passing the quantitative assessment, I couldn't find anything about it on the Stern Site.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 08:22
Regarding the Quantitative Assessment, how long did you guys study for it before taking it? I want to make sure I pass on my first try. Will probably try to take it this weekend. Already did most of the other enrollment things they have us do.

I just looked over the questions, and there is a lot about logs in there, so I guess I will google those to refresh my memory.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 08:45
I worked through the practice test and found the questions on the practice test challenging.

The actual assessment is substantially easier than the practice test. Everything is multiple choice, so you can usually test if your answer is right by testing each answer choice. But most importantly, the questions are just easier.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 09:02
Encouraging news....my gmat is in the lower end of the NYU middle 80% range. Other than that, I thought my profile was solid. Applied pretty early, but still no word. Kinda annoying, but some poster here did mention that majority of applicants find out in July. So, there is still hope.

MCJD4ever wrote:
OMG OMG I got in!!! Washington Square weeknights!!! I can't believe it!! Even with the 590 GMAT!!


Everyone out there with a low GMAT, please do no lose heart - I am living proof that IT CAN BE DONE!!!!

Can't wait to meet you all in the fall!!!
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Schools: Stern Part-time
Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 09:07
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Well, I think my success story (with a 590 GMAT, below their 80% range) disproves two common theories:

1. People with High GMATs always hear earliest - not true. I probably have the lowest GMAT on this forum, yet I found out relatively early (last day of June)

2. GMAT is main factor/ "everything" - if this were true, I would not have been admitted. It seems that NYU is truthful when they say that their admissions process is "holistic."

Best of luck to you, ubs! We're all pulling for you.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 10:14
Ukyo - what 'tour' are you referring to? Thanks.

ukyo wrote:
You will have to go to some tutoring/class. That is stated in the tour.

Do not worry, it it hard to not pass.



ph69917 wrote:
Just out of curiousity, anyone know the penalty for not passing the quantitative assessment, I couldn't find anything about it on the Stern Site.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 10:33
Tour means the NYU "New Student Tour", which is on their website and is required reading (and details out specifics around things like Quantitative Assessment, etc). You can find it by going to the Stern site, clicking on Admitted Students, then selecting Langone program.


LEmeY wrote:
Ukyo - what 'tour' are you referring to? Thanks.

ukyo wrote:
You will have to go to some tutoring/class. That is stated in the tour.

Do not worry, it it hard to not pass.



ph69917 wrote:
Just out of curiousity, anyone know the penalty for not passing the quantitative assessment, I couldn't find anything about it on the Stern Site.
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Re: NYU Stern-Langone Fall 2010 [#permalink]

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New post 06 Jul 2010, 12:04
beebu wrote:
tt11234 wrote:
hi everyone,
i know the gmat score plays an important role in the application process.i wonder how important the recommendations will be in the application process from the scale of 1 to 10 (10 is very important). my target school is NYU stern. please comment!


tt11234 -

As I am beginning to look at the admissions it looks like not one factor is decisive in admission. My take on recommendations is if you do not have atleast a neutral recommendation (non negative / lack of recommendation) it would be hard to qualify as a decent application.

And within positive recommendations, the person providing the recommendation carries more weight. An ok recommendation from the vice president of a fortune 500 company or a big donor might carry more weight than a very pleasing recommendation from your unemployed room mate.

Also I assume a recommendation for full time vs part time can carry different weights.

thanks, Beebu!! i am thinking to apply for the part-time program. i already asked my boss who is a VP and i need one more recommendation. i am thinking if i should ask the another VP or an AVP to do it. This VP just joined the firm and i don't have a chance to work with the VP yet on a daily basis ( but i do report to him sometimes). should i ask him for the recommenddation? please advise!
Re: NYU Stern-Langone Fall 2010   [#permalink] 06 Jul 2010, 12:04

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