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Golf equipment manufacturing in the United States experienced the same

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Carcass
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Golf equipment manufacturing in the United States experienced the same [#permalink] New post   17 May 2021, 13:16
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Golf equipment manufacturing in the United States experienced the same percent growth rate from 2001 to 2008 as it did from 1994 to 2001. If the shares of golf supplies production made up of bags, balls and training aids each increased anywhere from one to five percentage points from 2001 to 2008, which of the following could be the sum of the value of bags, balls and training aids produced in the United States in 2008, in millions of dollars?


Indicate all such sums.

1,550
1,627
1,855
2,197
2,339
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C,D
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Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   20 May 2021, 02:06
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2001 Total Value : 3370 Million
1994 Total Value : 2691 Million
Percent increase from 1994 to 2001 = 25%

Hence, by same percent increase the total value in 2008 = 4212.5 Million.

1 percent increase each means total percentage of bags, balls and training aids = 31%
5 percent increase each means total percentage of bags, balls and training aids = 43%

Range of sum of values of bags, balls and training aids :
= 31% of 4212.5 Million< sum <43% of 4212.5 Million
=1305 Million < sum < 1811 Million

Answer is A, B.

But since the OA is given as C, D...I guess there is some error or misinformation in the graph/image provided Carcass.
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Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   20 May 2021, 03:36
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No Sir

The graph by Kaplan book is in its entire version

:dontknow:
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Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   20 May 2021, 20:22
Carcass wrote:
No Sir

The graph by Kaplan book is in its entire version

:dontknow:


Can you explain the solution please...
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Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   21 May 2021, 01:12
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Sorry was princeton not kaplan

OE

First, find the total U.S. production of golf goods in 2008. Calculate the percent change from 1994 to 2001 using the percent change formula.

Values of 3,770 for Xpresent and 2,691 for Xpast. The percent change from 1994 to 2001 was 40.1%.

Multiply the 2001 value by 40.1% and add that to the original value to find the 2008 production value of 5,282. Next, figure out the percentage of 2008 production that could be from balls, bags and training aids. In 2001, those three categories together made up 17% + 7% + 4% = 28% of production. If each category’s share of total production increased between one and five percentage points, the minimum the three categories together could have grown is 3%, and the maximum they could have grown is 15%. So, the minimum percent of production they represent in 2008 is 28% + 3% = 31%, and the maximum is 28% + 15% = 43%. The minimum production value they represent then is 31% × 5,282 = 1,637, and the maximum is 43% × 5282 = 2,271. Correct choices (C) and (D) are the only answers that fall in that range.
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Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   21 May 2021, 01:41
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Carcass wrote:
Sorry was princeton not kaplan

OE

First, find the total U.S. production of golf goods in 2008. Calculate the percent change from 1994 to 2001 using the percent change formula.

Values of 3,770 for Xpresent and 2,691 for Xpast. The percent change from 1994 to 2001 was 40.1%.

Multiply the 2001 value by 40.1% and add that to the original value to find the 2008 production value of 5,282. Next, figure out the percentage of 2008 production that could be from balls, bags and training aids. In 2001, those three categories together made up 17% + 7% + 4% = 28% of production. If each category’s share of total production increased between one and five percentage points, the minimum the three categories together could have grown is 3%, and the maximum they could have grown is 15%. So, the minimum percent of production they represent in 2008 is 28% + 3% = 31%, and the maximum is 28% + 15% = 43%. The minimum production value they represent then is 31% × 5,282 = 1,637, and the maximum is 43% × 5282 = 2,271. Correct choices (C) and (D) are the only answers that fall in that range.


Yup, answer is (C) and (D) if the Xpresent value is taken as 3770. It is mentioned as 3370 in the posted image graph, then the answer comes out to (A) and (B)
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Golf equipment manufacturing in the United States experienced the same [#permalink] New post   29 Sep 2021, 12:02
Values of 3,770 for Xpresent and 2,691 for Xpast. The percent change from 1994 to 2001 was 40.1%.


Can you please explain how the percent change from 1994 to 2001 was 40.1%
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Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   29 Sep 2021, 12:12
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\(\frac{3770-2691}{2691} \approx 40.1\)
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Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   29 Sep 2021, 16:24
But the value for 2001 is 3370 not 3770. So the percent change should be (3370-2691)/2691 = 25.23%
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