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13 Feb 2024, 05:20
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Dropdown 1: negatively correlated
Dropdown 2: 8
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
55%
(hard)
Question Stats:
54% (01:11) correct
46%
(01:12)
wrong
based on 1200
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Not Attempted Yet
The graph above shows the share prices of Company X and Company Y over the first six months of 2021, based on the last working day of each month.
Select from each drop-down menu the option that creates the most accurate statement, given the information provided.
Based on the graph above, the share prices of the companies are .
The range of the share price of Company X on the last working day for the six months shown in the graph is .
GMAT-Club-Forum-c0j2jgl1.png [ 14.38 KiB | Viewed 2517 times ]
The graph above shows the share prices of Company X and Company Y over the first six months of 2021, based on the last working day of each month.
Select from each drop-down menu the option that creates the most accurate statement, given the information provided.
Based on the graph above, the share prices of the companies are .
The range of the share price of Company X on the last working day for the six months shown in the graph is .
Attachment:
GMAT-Club-Forum-c0j2jgl1.png [ 14.38 KiB | Viewed 2517 times ]
ShowHide Answer
Official Answer
Dropdown 1: negatively correlated
Dropdown 2: 8
16 Dec 2024, 04:56
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Bunuel
Official Solution:
Drop-down 1:
Two data sets are positively correlated if they both tend to be higher in the same cases. They are negatively correlated if one tends to be higher in cases where the other is lower. For positively correlated data, their lines tend to slope up or down together; the more consistently this happens, the stronger the positive correlation. Conversely, when two data sets are negatively correlated, the line for one tends to slope up while the other slopes down, and vice versa. The more consistently these opposite slopes occur, the stronger the negative correlation.
Examining the graph, we observe that the lines for the shares of Company X and Y slope in opposite directions in 4 out of 5 cases. Thus, we can conclude that the share prices are negatively correlated.
Drop-down 2:
The range is the difference between the highest value and the lowest value. The highest price for Company X's share was in June at 28, and the lowest price was in April at 20, making the range equal to 28 - 20 = 8.
Correct answer:
Dropdown 1: "negatively correlated"
Dropdown 2: "8"
Attachment:
GMAT-Club-Forum-5v6aho52.png [ 14.38 KiB | Viewed 2478 times ]
20 Dec 2024, 08:41
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1. Positive correlation (+) is when intervals from both companies X and Y increase/decrease together. Negative correlation (-) is when one increases and the other decreases.
2. Let's consider each interval of the graph:
- January/February: -
- February/March: +
- March/April: -
- April/May: -
- May/June: -
As we can see, the two graphs are mainly negatively correlated.
3. Company X is the orange graph. It's range is equal to the absolute difference between the lowest (20) and highest (28), which is 28 - 20 = 8.
4. Our answer will be: "negatively correlated" and 8.
2. Let's consider each interval of the graph:
- January/February: -
- February/March: +
- March/April: -
- April/May: -
- May/June: -
As we can see, the two graphs are mainly negatively correlated.
3. Company X is the orange graph. It's range is equal to the absolute difference between the lowest (20) and highest (28), which is 28 - 20 = 8.
4. Our answer will be: "negatively correlated" and 8.
