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Once again, our annual management retreat will be held in Bloomsbury. [#permalink]
Question 2 - second item
"The two regions with the least sample size also had the least difference between the most and least expensive airfare found during research." What are the two regions? If im reading the graph correct, the sample size is the dashed line with the black circle marker, and the lowest point corresponds to Midwest, while the second lowest can't be determined since Northwest, South and Plain seems to have the same sample size (400). Any clue what im missing?
Question 2 - third item
I had the same reasoning as Ryanh7788. I choose "False" because the statement would only be true if it were true no matter which three regions we are selecting, which is not that case... The OE according with OP is "True", thou...
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Once again, our annual management retreat will be held in Bloomsbury. [#permalink]
Can you explain the 2nd and 3rd parts of the question 2, plz?
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Re: Once again, our annual management retreat will be held in Bloomsbury. [#permalink]
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cathyjiang04 wrote:
Can you explain the 2nd and 3rd parts of the question 2, plz?

­
Statement 2: Standard deviation is the measure of the spread, or range, of the numbers within a set. Based on Memo #2, this may suggest that it is true that the two regions with the least sample size also had the least difference between the most and least expensive airfare found during research, the information provided in the question gives no insight into how many standard deviations were required to encompass all the data points. Therefore, it is impossible to know the distance between the greatest and least values for the information.

The statement is False.

Statement 3: This question asks about the averages of the researched airfare prices, so look at Memo #2. Determine the combined mean airfare of the researched regions by finding the sum of total amount for each of the regions individually, and then dividing that number by the total number of the sample size. The combined mean airfare for the researched regions is $271.42. This is less than the mean airfare for the Northeast, Mid-Atlantic, and Plains regions.

The statement is True.
 
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Re: Once again, our annual management retreat will be held in Bloomsbury. [#permalink]
please can anyone explain question 3?­
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Re: Once again, our annual management retreat will be held in Bloomsbury. [#permalink]
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DrAnkita91 wrote:
please can anyone explain question 3?­

Official Explanation


3. If one of the tickets purchased by the West Region’s Level 2 managers were selected at random, what is the probability that it is eligible to be fully reimbursed?

Explanation

­Memo #1 explains the company’s airfare reimbursement policy, Memo #2 details the average, standard deviation, and sample size for flights from each region to Bloomsbury, and Email #1 describes the number of tickets purchased at various prices in the West region. According to Memo #1, any ticket priced at or below one standard deviation above the mean is eligible for reimbursement. According to Memo #2, airfare from the West region averages $200 per ticket with a standard deviation of $25. Therefore, any ticket priced at or below $225 is fully reimbursed. According to Email #1, 22 of the 30 tickets purchased in the West region are priced within this range. Thus, the probability a randomly selected ticket is eligible to be fully reimbursed is , which reduces to .

The correct answer is (C)
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Re: Once again, our annual management retreat will be held in Bloomsbury. [#permalink]
Apt0810 wrote:
1)Yes,since Westland has the lowest sample size and lowest corresponding mean
No,since it is not written anywhere that only L2 managers will go for retreat
Yes,since HR and other teams are also supporting in the booking

2)a)Yes,since the difference between the Avg and 1 SD is 175, so tickets worth 150 will be under the budget bonus,hence the total budget bonus will be (175-150)*18(Number of tickets)= 450$
b)No,this is not the case here
c)Yes the mean is 45.83 and is less than mean of three individual regions

3) Tickets within 1 SD of mean are fully reimbursed ,so per the chart 3 the tickets worth 150$ & 210$ will be fully reimbursed,so the probability is (18+4)/(18+4+8)= 11/15

Posted from my mobile device

­ “regional offices will receive a “Budget Bonus” of 50% of the difference between the ticket price and the average airfare from your region to Bloomsbury.”
So as per 2)a, shouldn't the total budget bonus be (175-150)*18(Number of tickets)*50%= 225$ ?
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Re: Once again, our annual management retreat will be held in Bloomsbury. [#permalink]
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