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Swagatalaxmi
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GMAT Focus 1: 695 Q85 V88 DI80
Posts: 132
Updated on: 23 Apr 2024, 10:31
Originally posted by Swagatalaxmi on 22 Apr 2024, 11:31.
Last edited by Bunuel on 23 Apr 2024, 10:31, edited 3 times in total.
Last edited by Bunuel on 23 Apr 2024, 10:31, edited 3 times in total.
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
85%
(hard)
Question Stats:
59% (03:12) correct
41%
(03:14)
wrong
based on 1323
sessions
History
Date
Time
Result
Not Attempted Yet
In a 500-day simulated currency-trading contest, three teams-Teams A, B, and C-applied automated currency-trading algorithms as the exchange rate data were streamed to their computers in real time. At the end of each day, each team's simulated balance (full-balance), in USD, was recorded. The contest was decided on the basis of these full-balances and their associated half-balances (0.5 times the corresponding full-balance). At the end of Day 500, the teams reported their full-balance and half-balance histories as well as their 500-day average full-balance. This information is shown in the graph.
The winner of the contest was to be the team that earned the greatest number of the following points: 1 point for having at least one half-balance that exceeded another team's same-day full-balance on at least one day; 1 point for having the greatest 500-day full-balance average; and 1 point for having the greatest full-balance at the end of at least 80% of the days. In the event of a tie, the team with the greatest 500-day full-balance average was to be declared the winner.
Select from each drop-down menu the option that creates the most accurate statement.
In the contest, Team was declared the winner after winning points
Attachment:
Screenshot 2024-04-23 005511.png [ 155.58 KiB | Viewed 19025 times ]
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8Harshitsharma
Joined: 25 Oct 2017
Last visit: 06 Jul 2025
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GMAT Focus 1: 655 Q87 V80 DI80
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The question is indeed CORRECT.
The correct answer to this is indeed be A wins with 2 points
I had a hard time understanding the 3rd rubric for getting the point in the given game.
1. A & B both get the point since both > full balance of C around day 210
2. A gets the point because it has the greatest FB average.
3. At the end of at least 80% of the days means for at least 400 days if any curve stays maximum that team gets the point. Hence, A,B,C all DO NOT get this point. Logic: 'A' stays maximum for around 150 days, B for 200, C for <50 days.
Total A:2, B:1, C:0
The language makes this VERY HARD to get.
The correct answer to this is indeed be A wins with 2 points
I had a hard time understanding the 3rd rubric for getting the point in the given game.
1. A & B both get the point since both > full balance of C around day 210
2. A gets the point because it has the greatest FB average.
3. At the end of at least 80% of the days means for at least 400 days if any curve stays maximum that team gets the point. Hence, A,B,C all DO NOT get this point. Logic: 'A' stays maximum for around 150 days, B for 200, C for <50 days.
Total A:2, B:1, C:0
The language makes this VERY HARD to get.
Swagatalaxmi
The winner of the contest was to be the team that earned the greatest number of the following points:
1 point for having at least one half-balance that exceeded another team's same-day full-balance on at least one day;
At about day 220, Green line's full balance fell very low. Black line's half balance and Red line's half balance both were more than it.
Hence R - 1 point, B - 1 point
1 point for having the greatest 500-day full-balance average;
Red line has the greatest average 500 day balance of about 190 USD (thin flat line)
Hence R gets another point and is now R = 2
and 1 point for having the greatest full-balance at the end of at least 80% of the days.
No line is the top line for 80% of the days or more. To be the greatest full balance for 80% of the days, the line must be the top line for at least 400 days (out of 500). Black line is the top line for about 150 days. Now 350 days are left. Red line is at the top for most of the rest of the days. Green line is at the top for few days at the end. So no line was at the top for 400 or more days.
Hence this point does not get allocated to anyone.
In the event of a tie, the team with the greatest 500-day full-balance average was to be declared the winner.
There is no tie, so ignore.
So red line which is team A, won by 2 points.
Select A, 2
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General Discussion
Posts: 9
"1 point for having the greatest full-balance at the end of at least 80% of the days."
How do we find this one out? Team A and B both look like they have similar number of days where they had the greatest full balance. I feel with the graph given, it would almost come down to luck in choosing A.
I chose B with 2 points.
Please let me know if I am missing something.
How do we find this one out? Team A and B both look like they have similar number of days where they had the greatest full balance. I feel with the graph given, it would almost come down to luck in choosing A.
I chose B with 2 points.
Please let me know if I am missing something.
Jake7Wimmer
Joined: 25 Apr 2023
Last visit: 24 Jan 2025
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First Point:
Team A & Team B both get a point
Second Point:
Team A gets the only point
Third Point:
Team C gets the only Point
"Greatest full balance at the end of at least 80% of the days" is confusing wording. Team C ends up with greatest full-balance hence why I gave them the point.
Totals:
Team A: 2 -> Answer = Team A after winning 2 points
Team B: 1
Team C: 1
Team A & Team B both get a point
Second Point:
Team A gets the only point
Third Point:
Team C gets the only Point
"Greatest full balance at the end of at least 80% of the days" is confusing wording. Team C ends up with greatest full-balance hence why I gave them the point.
Totals:
Team A: 2 -> Answer = Team A after winning 2 points
Team B: 1
Team C: 1
T4Star
Hi, I may not be too aware how these two terms are related: 500 day full balace average and full balance on each day for 500 days. Some one from commodity or currency market may comment on that
But if I look at the term the way they are, the average lines of B and C should be interchanged and would then fit in perfectly. In all probability that is an error in this official question.
Two points
1) Great work in understanding the graph and this would surely help somewhere else. Kudos for that.
2) But if it were actual test, I would say that restrict yourself to the data sought. You would realize that the answer does not change irrespective of the color of the line as they have just been added as additional unessential information. The top line is the only info reuired.
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Swagatalaxmi
Joined: 05 Sep 2023
Last visit: 09 Jul 2026
Posts: 132
Location: India
Concentration: Healthcare, General Management
Schools: Wharton '27 (D) Columbia '27 (D) Booth '27 (WL) MIT '27 (D) Kellog '27 (D) Stern '27 (WL) Yale '27 (D) Fuqua '27 (D) Ross '27 (A$) Darden '26 (A$$$) Goizueta '26 (A$$$) Mashall '26 (A$) Tepper '26 (A$)
GMAT Focus 1: 695 Q85 V88 DI80
GPA: 3.19
WE:Medicine and Health (Healthcare/Pharmaceuticals)
Products:
Schools: Wharton '27 (D) Columbia '27 (D) Booth '27 (WL) MIT '27 (D) Kellog '27 (D) Stern '27 (WL) Yale '27 (D) Fuqua '27 (D) Ross '27 (A$) Darden '26 (A$$$) Goizueta '26 (A$$$) Mashall '26 (A$) Tepper '26 (A$)
GMAT Focus 1: 695 Q85 V88 DI80
Posts: 132
chetan2u
Thank you for replying! This question was so confusing and I couldn't figure out why my answer was not what it should be! But this is giving me a new anxiety - will there be errors like this in the real GMAT as well??
Swagatalaxmi
A will get 1 point for highest 500-day average and all three incl A will get 1 point each for half day balace exceeding full day balance of other for any one day.
The last point is given to team if it has daily full balace highest for at least 80% of the days, taht is for 400 days.
For this check the colour of the highest point/line from 0 to 500 days. A has highest for 100-150 and then 300-375, so almost 50+75 or 125 days, it could be slightly more when you calculate accurately but would not be any where close to 400 days.
A>125 days means other two are also not >400 days.
So, no one gets the third point,.
Answer A with 2 points.
_________________
"and 1 point for having the greatest full-balance at the end of at least 80% of the days" i do not understand why both B and C should not be getting a point for this because they both have periods of high after atleast 80% of the time- can this be explained?
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Expert reply
Swagatalaxmi Thanks for posting. There isn't a tag for the Source, where did you see this one? It was on practice test #1 or #2?
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Swagatalaxmi Thanks for posting. There isn't a tag for the Source, where did you see this one? It was on practice test #1 or #2?
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Swagatalaxmi
Joined: 05 Sep 2023
Last visit: 09 Jul 2026
Posts: 132
Location: India
Concentration: Healthcare, General Management
Schools: Wharton '27 (D) Columbia '27 (D) Booth '27 (WL) MIT '27 (D) Kellog '27 (D) Stern '27 (WL) Yale '27 (D) Fuqua '27 (D) Ross '27 (A$) Darden '26 (A$$$) Goizueta '26 (A$$$) Mashall '26 (A$) Tepper '26 (A$)
GMAT Focus 1: 695 Q85 V88 DI80
GPA: 3.19
WE:Medicine and Health (Healthcare/Pharmaceuticals)
Products:
Schools: Wharton '27 (D) Columbia '27 (D) Booth '27 (WL) MIT '27 (D) Kellog '27 (D) Stern '27 (WL) Yale '27 (D) Fuqua '27 (D) Ross '27 (A$) Darden '26 (A$$$) Goizueta '26 (A$$$) Mashall '26 (A$) Tepper '26 (A$)
GMAT Focus 1: 695 Q85 V88 DI80
Posts: 132
GMATCoachBen
Hi, I got it in Practice Test #4
GMAT Focus 1: 645 Q84 V82 DI79
Posts: 55
Did anyone notice a major flaw in graph: The full balance averages for Team B and Team C are interchanged, which makes it almost a guess for second point (between A and B). Did not expect Official test questions with such flaws!!
First Point:Team A & Team B both get a point
Second Point:Team A gets the only point (Avg=190)
Third Point: No team gets the only Point
First Point:Team A & Team B both get a point
Second Point:Team A gets the only point (Avg=190)
Third Point: No team gets the only Point
GMAT 1: 710 Q48 V40
Posts: 151
C doesnt get any point - for no day is half balance of C more than full balance of A or B.
chetan2u
where and what is interchanged?
Ankit__7182
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