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30 Sep 2020, 00:49
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The product with the greatest Average Annual % Change (2006–2011) is the same as the product with the greatest total percentage increase over the entire period.: True
Over the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed (Rice, Wheat, Nuts, Corn, Coffee, Sugar) in the table exceeds that of the animal products listed (Eggs, Processed meats, Live animals, Dairy, Pork, Poultry, Beef).: True
If the dollar value of sugar exports remained constant for the five years after 2011, while all other products continued to grow at their respective average annual percentage rates (as given in the last column), the dollar value of exactly two products would surpass that of sugar exports by 2016.: False
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
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The table shows the dollar value (in millions) of selected Brazilian exports by agricultural products over a six-year period from 2006 to 2011.
For each of the following statements, select True if the information in the table accurately supports the statement. Otherwise, select False.
12345.jpg [ 146.67 KiB | Viewed 7555 times ]
| Product | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | Average Annual % Change (2006–2011) |
|---|---|---|---|---|---|---|---|
| Beef | 3,890 | 4,354 | 5,081 | 3,890 | 4,564 | 5,077 | 5 |
| Coffee | 2,953 | 3,405 | 4,168 | 3,791 | 5,204 | 8,026 | 22 |
| Corn | 482 | 1,919 | 1,405 | 1,302 | 2,216 | 2,716 | 41 |
| Dairy | 139 | 274 | 510 | 148 | 132 | 98 | -7 |
| Eggs | 30 | 53 | 95 | 86 | 115 | 110 | 30 |
| Live animals | 89 | 285 | 418 | 471 | 697 | 492 | 41 |
| Nuts | 247 | 294 | 289 | 304 | 3,307 | 345 | 7 |
| Pork | 1,022 | 1,209 | 1,448 | 1,204 | 1,321 | 1,416 | 7 |
| Poultry | 3,472 | 5,019 | 6,921 | 5,700 | 6,691 | 8,073 | 18 |
| Processed meats | 71 | 105 | 152 | 142 | 151 | 161 | 18 |
| Rice | 60 | 53 | 312 | 268 | 163 | 613 | 59 |
| Sugar | 6,167 | 5,101 | 5,483 | 8,378 | 12,762 | 14,942 | 22 |
| Wheat | 64 | 30 | 204 | 63 | 227 | 699 | 61 |
For each of the following statements, select True if the information in the table accurately supports the statement. Otherwise, select False.
Attachment:
12345.jpg [ 146.67 KiB | Viewed 7555 times ]
| True | False | |
| The product with the greatest Average Annual % Change (2006–2011) is the same as the product with the greatest total percentage increase over the entire period. | ||
| Over the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed (Rice, Wheat, Nuts, Corn, Coffee, Sugar) in the table exceeds that of the animal products listed (Eggs, Processed meats, Live animals, Dairy, Pork, Poultry, Beef). | ||
| If the dollar value of sugar exports remained constant for the five years after 2011, while all other products continued to grow at their respective average annual percentage rates (as given in the last column), the dollar value of exactly two products would surpass that of sugar exports by 2016. |
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Official Answer
The product with the greatest Average Annual % Change (2006–2011) is the same as the product with the greatest total percentage increase over the entire period.: True
Over the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed (Rice, Wheat, Nuts, Corn, Coffee, Sugar) in the table exceeds that of the animal products listed (Eggs, Processed meats, Live animals, Dairy, Pork, Poultry, Beef).: True
If the dollar value of sugar exports remained constant for the five years after 2011, while all other products continued to grow at their respective average annual percentage rates (as given in the last column), the dollar value of exactly two products would surpass that of sugar exports by 2016.: False
24 Nov 2024, 08:02
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Bunuel
Official Solution:
Statement 1:
Sorting by Average Annual % Change (2006–2011), we see that the product with the greatest change is Wheat at 61%, with an overall increase from 64 to 699—more than a tenfold increase. The closest competitor is Rice, with an increase from 60 to 613; however, Wheat's increase is still greater. Therefore, this statement is True.
Statement 2:
Sorting by the 2006 data, we can ignore products from Eggs to Nuts because both their 2006 and 2011 figures are relatively low and are unlikely to significantly affect the final comparison. The remaining non-animal products (Corn, Coffee, Sugar) sum up to approximately 9,500 in 2006 and increase to 25,000 in 2011, constituting an increase of about 2.5 times. For the remaining animal products (Pork, Poultry, Beef), the 2006 total is approximately 7,400, increasing to 14,500 in 2011, which is less than a twofold increase. Therefore, this statement is True.
Statement 3:
Sugar in 2011 accounted for slightly less than 15,000. To determine which products could surpass this figure in 5 years, we focus on the largest exports in 2011 with the highest average annual growth rates. There are three potential contenders:
• Poultry: With 8,073 and an average annual growth rate of 18%, it would more than double in 5 years, surpassing 15,000 (Even without compounding, 18% annual growth over 5 years results in a 90% increase, which is sufficient to raise 8,000 to more than 15,000. With compounding, the growth would exceed 100%, meaning 8,000 would grow to over 16,000).
• Coffee: With 8,026 and an average annual growth rate of 22%, it would more than double in 5 years, surpassing 15,000.
• Corn: With 2,716 and an average annual growth rate of 41%, it would grow to \(2,716 * 1.41^5 > 15,000\).
Thus, three products—not two—would surpass sugar exports by 2016. Therefore, this statement is False.
Correct answer:
The product with the greatest Average Annual % Change (2006–2011) is the same as the product with the greatest total percentage increase over the entire period. "True"
Over the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed (Rice, Wheat, Nuts, Corn, Coffee, Sugar) in the table exceeds that of the animal products listed (Eggs, Processed meats, Live animals, Dairy, Pork, Poultry, Beef). "True"
If the dollar value of sugar exports remained constant for the five years after 2011, while all other products continued to grow at their respective average annual percentage rates (as given in the last column), the dollar value of exactly two products would surpass that of sugar exports by 2016. "False"
Attachment:
GMAT-Club-Forum-ql7acimk.png [ 60.65 KiB | Viewed 1136 times ]
24 Nov 2024, 09:53
Kudos
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1. The question asks us to check whether the following statements are supported by the table.
2. The product with the greatest Average Annual % Change (2006–2011) is the same as the product with the greatest total percentage increase over the entire period. Wheat has the largest average annual % change with 61%. Over the entire period, it goes from 64 to 699, which is more than 10 times larger. Such a factor can only be seen in rice. Wheat has a \(100 * \frac{699 - 64}{64} \approx 992\%\) total percentage increase while Rice has a \(100 * \frac{613 - 60}{60} \approx 922\%\) total percentage increase. So, this statement is supported by the table.
3. Over the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed (Rice, Wheat, Nuts, Corn, Coffee, Sugar) in the table exceeds that of the animal products listed (Eggs, Processed meats, Live animals, Dairy, Pork, Poultry, Beef). To compare the two groups we need to sum up their values for 2006 and 2011. For non-animal products it goes from 9973 to 27341, which is a \(100 * \frac{27341 - 9973}{9973} = 174\%\) total increase. For animal products it goes from 8713 to 15427, which is a \(100 * \frac{15427 - 8713}{8713} = 77\%\) total increase. So, this statement is supported by the table.
4. If the dollar value of sugar exports remained constant for the five years after 2011, while all other products continued to grow at their respective average annual percentage rates (as given in the last column), the dollar value of exactly two products would surpass that of sugar exports by 2016. An annual percentage rate of around 20% multiplies the sum by 2.5 times, so, Poultry and Coffee work. Beef and Pork can be crossed out since their rates are too small, however, Corn could work. Anything lower changes with a rate of around or less than 60%. Over 5 years, this is around 10 times more, which clearly isn't enough. Now let's check the possible contenders:
- Poultry: \(8073 * (1.18)^5 \approx 18469\).
- Coffee: \(8026 * (1.22)^5 \approx 21692\).
- Corn: \(2716 * (1.41)^5 \approx 15136\).
All of the products surpass the value of sugar exports (14942). However, this is more than 2. So, this statement isn't supported by the table.
2. The product with the greatest Average Annual % Change (2006–2011) is the same as the product with the greatest total percentage increase over the entire period. Wheat has the largest average annual % change with 61%. Over the entire period, it goes from 64 to 699, which is more than 10 times larger. Such a factor can only be seen in rice. Wheat has a \(100 * \frac{699 - 64}{64} \approx 992\%\) total percentage increase while Rice has a \(100 * \frac{613 - 60}{60} \approx 922\%\) total percentage increase. So, this statement is supported by the table.
3. Over the entire six-year period, the percentage increase in exports by dollar value for the non-animal products listed (Rice, Wheat, Nuts, Corn, Coffee, Sugar) in the table exceeds that of the animal products listed (Eggs, Processed meats, Live animals, Dairy, Pork, Poultry, Beef). To compare the two groups we need to sum up their values for 2006 and 2011. For non-animal products it goes from 9973 to 27341, which is a \(100 * \frac{27341 - 9973}{9973} = 174\%\) total increase. For animal products it goes from 8713 to 15427, which is a \(100 * \frac{15427 - 8713}{8713} = 77\%\) total increase. So, this statement is supported by the table.
4. If the dollar value of sugar exports remained constant for the five years after 2011, while all other products continued to grow at their respective average annual percentage rates (as given in the last column), the dollar value of exactly two products would surpass that of sugar exports by 2016. An annual percentage rate of around 20% multiplies the sum by 2.5 times, so, Poultry and Coffee work. Beef and Pork can be crossed out since their rates are too small, however, Corn could work. Anything lower changes with a rate of around or less than 60%. Over 5 years, this is around 10 times more, which clearly isn't enough. Now let's check the possible contenders:
- Poultry: \(8073 * (1.18)^5 \approx 18469\).
- Coffee: \(8026 * (1.22)^5 \approx 21692\).
- Corn: \(2716 * (1.41)^5 \approx 15136\).
All of the products surpass the value of sugar exports (14942). However, this is more than 2. So, this statement isn't supported by the table.
