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10 Dec 2019, 12:12
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There is at least one other country in which Company X has a greater percentage of the performance plastics market, as a percentage of 2011 sales, than it has of the performance plastics market in the U.S.: Yes
There is a positive correlation between global market share and U.S. market share.: Yes
The Performance Plastics division had greater market share in at least one other country than it had in the United States.: Yes
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
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Question Stats:
37% (02:37) correct
63%
(02:54)
wrong
based on 246
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The table below displays data from the different divisions of Company X in 2011. Market shares are computed by dividing Company X's total sales (in dollars) for that division by the total sales (in dollars) made by all companies selling products in that category. Market shares are separately calculated for the world (global market share) and for the United States (U.S. market share). Ranks are calculated relative to all companies competing in a particular market.
Select Yes if the statement can be proven true by the evidence provided. Otherwise, select No.
(Sort ↕ the table by clicking on the headers)
12.jpg [ 92.08 KiB | Viewed 7646 times ]
Select Yes if the statement can be proven true by the evidence provided. Otherwise, select No.
| Division | Global Market Share (%) | Global Market Rank | Total U.S. Market Share (%) | U.S. Market Rank |
|---|---|---|---|---|
| Agriculture & Food | 8 | 6 | 12 | 4 |
| Healthcare & Medical | 12 | 4 | 18 | 2 |
| Household Goods & Personal Care | 5 | 5 | 10 | 4 |
| Performance Plastics | 30 | 1 | 26 | 1 |
| Water & Process Solutions | 19 | 1 | 32 | 1 |
Attachment:
12.jpg [ 92.08 KiB | Viewed 7646 times ]
| Yes | No | |
| There is at least one other country in which Company X has a greater percentage of the performance plastics market, as a percentage of 2011 sales, than it has of the performance plastics market in the U.S. | ||
| There is a positive correlation between global market share and U.S. market share. | ||
| The Performance Plastics division had greater market share in at least one other country than it had in the United States. |
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Official Answer
There is at least one other country in which Company X has a greater percentage of the performance plastics market, as a percentage of 2011 sales, than it has of the performance plastics market in the U.S.: Yes
There is a positive correlation between global market share and U.S. market share.: Yes
The Performance Plastics division had greater market share in at least one other country than it had in the United States.: Yes
10 Dec 2019, 12:43
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Yes since total share is 30% and out of that 26% is in US with 1st rank so there is some other country where the percentage is greater than that of the US
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10 May 2020, 09:25
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Official Explanation
(1) Understand the prompt, and (2) understand the question. Take real time to do so here, since you have complex data and a statement that is worded in a cumbersome way. Now, as you consider your approach, it may seem as if the answer to this question is No. How can you prove such a statement? All we know about performance plastics is that Company X has 26% of the U.S. market and 30% of the world market, and that both positions are #1 (meaning that no other company has a larger share of either market). Well, lets play “devils advocate” and try to poke a hole in the statement.
Imagine that the statement is false. That is, there is no other country in which X s share is greater than it is in the U.S. So in every other country, X s share of the market is 26% or less. Everywhere in the world, including in the U.S., Company X is making only 26% or less of the revenues that are being made on performance plastics.
Then how can X ’s share of the world market be 30%?
It can’t be!
If Company X ’s global market share is 30%, but its market share in the U.S. is lower than 30%, then somewhere else, its market share must be higher than 30%. You can think of weighted averages. Company X s global market share is the weighted average of its market shares in all countries. For 30% to be the weighted average of 26% and a bunch of other numbers, at least one of those other numbers must be greater than 30%.
Thus, the statement must be true. The answer is Yes.
(1) Understand the prompt, and (2) understand the question. Take real time to do so here, since you have complex data and a statement that is worded in a cumbersome way. Now, as you consider your approach, it may seem as if the answer to this question is No. How can you prove such a statement? All we know about performance plastics is that Company X has 26% of the U.S. market and 30% of the world market, and that both positions are #1 (meaning that no other company has a larger share of either market). Well, lets play “devils advocate” and try to poke a hole in the statement.
Imagine that the statement is false. That is, there is no other country in which X s share is greater than it is in the U.S. So in every other country, X s share of the market is 26% or less. Everywhere in the world, including in the U.S., Company X is making only 26% or less of the revenues that are being made on performance plastics.
Then how can X ’s share of the world market be 30%?
It can’t be!
If Company X ’s global market share is 30%, but its market share in the U.S. is lower than 30%, then somewhere else, its market share must be higher than 30%. You can think of weighted averages. Company X s global market share is the weighted average of its market shares in all countries. For 30% to be the weighted average of 26% and a bunch of other numbers, at least one of those other numbers must be greater than 30%.
Thus, the statement must be true. The answer is Yes.
