TestPrepUnlimited
I don't think you'll see infinite sequences in GMAT so this question is likely outside of the testing range. This is more of a practice question on infinite number logic and it's good for developing the concept of infinity.
You certainly do see infinite sets and sequences on the GMAT -- Q166 in the PS section of QR2018 is a very typical example of how the GMAT tests 'infinity', and there are two questions in a row in the same section of that book (Q137 and Q138) that both explicitly contain infinite sequences (though neither truly tests the concept of 'infinity'). Q137 even begins "The infinite sequence a_1, a_2, ..." so infinite sequences are clearly within the scope of the test, though as Karishma correctly points out, they are strict limits on what they can ask about infinite sequences; they can't ask you to sum an infinite sequence, for example, since you need calculus to prove an infinite sum 'converges' and calculus is beyond the scope of the GMAT.
I'm credited as the source of the question in this thread, but I'm not sure where it comes from. It's not from my books or problem sets, but it's possible I posted it on the forum at one point, either to illustrate a fair way the GMAT can test 'infinity', or when suggesting a way to fix a problem someone else had posted.
A couple of the replies above suggest that no statements are needed to answer the question, and that's not the case. It's possible for an infinite sequence to have no minimum or maximum value which actually belongs to the sequence. For example, if the nth term a_n of a sequence was given by the rule:
\(\\
a_n = \frac{1}{2} + \left( \frac{n}{2n+1} \right)(-1)^{n}\\
\)
then you get a sequence where every term is strictly between 0 and 1, and which gets closer to 0 when n is odd, and closer to 1 when n is even, the larger the value of n becomes. This sequence never exceeds 1, but it keeps getting bigger and bigger the larger n is, when n is even, and it never drops below zero, but it gets smaller and smaller the larger n is, when n is odd. Or a different example with no minimum or maximum value strictly in the sequence, but which is always between 0 and 1:
0.9, 0.1, 0.99, 0.01, 0.999, 0.001, 0.9999, 0.0001, ....
That's why both statements are necessary in this question.