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Updated on: 18 Nov 2023, 00:18
Originally posted by tusharGupta1 on 25 Mar 2014, 00:14.
Last edited by BottomJee on 18 Nov 2023, 00:18, edited 4 times in total.
Last edited by BottomJee on 18 Nov 2023, 00:18, edited 4 times in total.
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Dropdown 1: $75
Dropdown 2: 200
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
(hard)
Question Stats:
41% (02:33) correct
59%
(02:35)
wrong
based on 306
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The accompanying chart shows the relationship between the commodity price index and the Canadian-US dollar exchange rate for the period 2002-2008.
From each drop-down menu, select the option that creates the most accurate statement.
1. The commodity price index in 2005 had a range of approximately .
2. The peak commodity price index in 2003 was approximately times the peak CAN-USD exchange rate in the same year.
IR_Q28Image.jpg [ 26.3 KiB | Viewed 6286 times ]
1. The commodity price index in 2005 had a range of approximately .
2. The peak commodity price index in 2003 was approximately times the peak CAN-USD exchange rate in the same year.
Attachment:
IR_Q28Image.jpg [ 26.3 KiB | Viewed 6286 times ]
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Dropdown 1: $75
Dropdown 2: 200
25 Mar 2014, 10:36
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tusharGupta1
Dear tusharGupta1,
I'm happy to respond.
The way this graph works is ---- the black scale on the right is Consumer Price Index, and this tracks the black line on the graph; the red scale is CAS-USD exchange rates, and this tracks the red line on the graph.
1) The commodity price index in 2005 had a range of approximately
The labeling of the horizontal axis leaves something to be desired. I don't know the source of this question. From the fact that the whole graph represents 2002-2008, we can infer that the "tick" labeled 2005 is at the very beginning of the 2005 year, so that the 2005 year extends from the tick labeled 2005 to the tick labeled 2006.
If we look at the black line in that range, I see a minimum about $150 and a maximum at the peak of around $225, so $225 - $150 = $75 is the approximate range.
For more on range, see:
https://magoosh.com/gmat/2012/common-gma ... tatistics/
2) The peak commodity price index in 2003 was approximately _____ times the peak CAN-USD exchange rate in the same year.
If we look at the 2003 year, which extends from the tick labeled 2003 to the tick labeled 2004, we see a clear black peak and a red high point right around 2004. The peaks are about the same height, so 1.1 would be a tempting answer. The trouble is --- the scales are completely different. That black peak, read on the black scale on the left, is about $150. That red high point, read on the red scale on the right, is about $0.75.
Well, $0.75 times 100 would be $75, and times 2 would be $150. Therefore, the peak commodity price index is approximately 200 times the peak CAN-USD exchange rate.
Does all this make sense?
Mike
General Discussion
18 Apr 2025, 08:26
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