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Prices of five different items in a sale reported by Jack were $257, $
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24 Sep 2024, 01:03
24 Sep 2024, 01:03
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12% (00:54) correct
87% (01:00) wrong based on 8 sessions
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Prices of five different items in a sale reported by Jack were $257, $450, $550, $850 and $1020.
Two of the prices were wrongly reported by Jack by mistake, one with $120 increase and other with $120 decrease.
Two of the prices were wrongly reported by Jack by mistake, one with $120 increase and other with $120 decrease.
Quantity A |
Quantity B |
Standard deviation of the reported prices |
Standard deviation of the actual prices |
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Re: Prices of five different items in a sale reported by Jack were $257, $
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12 Dec 2024, 02:14
12 Dec 2024, 02:14
Expert Reply
The actual prices of the 5 items are $\(\$ 257, \$ 450, \$ 550, \$ 850 \& \$ 1020\)$, whose standard deviation is to be compared with the standard deviation of the reported price which will comes by changing two of the actual prices, increasing one by $\(\$ 120 \&\)$ decreasing another one by $\(\$ 120\)$ and keeping the remaining 3 same.
It is not given that which two prices out of the five prices are to be changed. Increasing or decreasing those prices which can cause more deviation from the mean would result in increase in the standard deviation whereas increase/decrease in the values close to the mean would result in decrease in the standard deviation.
Hence a unique comparison cannot be formed between column A \& column B quantities, so the answer is (D).
It is not given that which two prices out of the five prices are to be changed. Increasing or decreasing those prices which can cause more deviation from the mean would result in increase in the standard deviation whereas increase/decrease in the values close to the mean would result in decrease in the standard deviation.
Hence a unique comparison cannot be formed between column A \& column B quantities, so the answer is (D).
gmatclubot
Re: Prices of five different items in a sale reported by Jack were $257, $ [#permalink]
12 Dec 2024, 02:14
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