Last visit was: 22 Dec 2024, 04:33 It is currently 22 Dec 2024, 04:33
Decision Tracker
My Rewards
New comers' posts
New posts
Unanswered

Close

GRE Prep Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GRE score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Go to My Error Log Learn more
Close

Request Expert Reply

Confirm Cancel
PREVIOUS TOPIC
NEXT TOPIC

Golf equipment manufacturing in the United States experienced the same

SORT BY:
Date
Kudos
Tags :
Find Similar Topics  About  Add a Tag

Show Tags
Hide Tags

User avatar
D
Carcass
Verbal Expert
Joined: 18 Apr 2015
Posts: 30460
Own Kudos [?]: 36814 [2]
Given Kudos: 26100
Send PM
Golf equipment manufacturing in the United States experienced the same [#permalink] New post   17 May 2021, 13:16
Expert Reply
2
Bookmarks
00:00

Question Stats:

57% (03:58) correct 42% (02:47) wrong based on 7 sessions

Hide Show timer Statistics

Attachment:
GRE Golf equipment manufacturing in the United States.jpg
GRE Golf equipment manufacturing in the United States.jpg [ 84.45 KiB | Viewed 3391 times ]


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
ShowHide Answer
Official Answer
C,D
User avatar
B
GeniusRex
Intern
Intern
Joined: 24 May 2020
Posts: 38
Own Kudos [?]: 49 [2]
Given Kudos: 7
Send PM
Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   20 May 2021, 02:06
2
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.
User avatar
D
Carcass
Verbal Expert
Joined: 18 Apr 2015
Posts: 30460
Own Kudos [?]: 36814 [0]
Given Kudos: 26100
Send PM
Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   20 May 2021, 03:36
Expert Reply
No Sir

The graph by Kaplan book is in its entire version

:dontknow:
User avatar
B
GeniusRex
Intern
Intern
Joined: 24 May 2020
Posts: 38
Own Kudos [?]: 49 [0]
Given Kudos: 7
Send PM
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...
User avatar
D
Carcass
Verbal Expert
Joined: 18 Apr 2015
Posts: 30460
Own Kudos [?]: 36814 [0]
Given Kudos: 26100
Send PM
Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   21 May 2021, 01:12
Expert Reply
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.
User avatar
B
GeniusRex
Intern
Intern
Joined: 24 May 2020
Posts: 38
Own Kudos [?]: 49 [1]
Given Kudos: 7
Send PM
Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   21 May 2021, 01:41
1
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)
avatar
B
ssatao
Intern
Intern
Joined: 19 Jul 2021
Posts: 5
Own Kudos [?]: 1 [0]
Given Kudos: 14
Send PM
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%
User avatar
D
Carcass
Verbal Expert
Joined: 18 Apr 2015
Posts: 30460
Own Kudos [?]: 36814 [0]
Given Kudos: 26100
Send PM
Re: Golf equipment manufacturing in the United States experienced the same [#permalink] New post   29 Sep 2021, 12:12
Expert Reply
\(\frac{3770-2691}{2691} \approx 40.1\)
avatar
B
ssatao
Intern
Intern
Joined: 19 Jul 2021
Posts: 5
Own Kudos [?]: 1 [0]
Given Kudos: 14
Send PM
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%
Moderators:
adewale223
GRE Instructor
88 posts
bronaugust
GRE Forum Moderator
37 posts
BrushMyQuant
Moderator
1115 posts
VibhuAnurag
GRE Instructor
234 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Main navigation

Partners

GRE Resources

www.ets.org/gre | About | Terms and Conditions and Privacy Policy | Prep Club for GRE Rules | Contact