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Approximately what percent of the total average

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Approximately what percent of the total average [#permalink] New post 29 Dec 2016, 02:41
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Approximately what percent of the total average annual income (before taxes) of retirees was spent on meats, poultry, and seafood (consumed at home)?

(A) 7%
(B) 10%
(C) 20%
(D) 23%
(E) 31%
[Reveal] Spoiler: OA

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Re: Approximately what percent of the total average [#permalink] New post 22 Jan 2017, 23:54
Please explain the solution to this question.
Thank You
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Re: Approximately what percent of the total average [#permalink] New post 24 Apr 2017, 11:48
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If you see the above graph,the percent of annual income for food away from home is 3% and the total percent of annual income for retirees is 40% .

Therefore, to calculate percent of the average annual income (before taxes) of retirees was spent on meats, poultry, and seafood (away from home) only
=3/40
Multiply both numerator and denominator with 2.5, we get 7.5 percent out of 100 percent.Approx answer is 7%.
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Re: Approximately what percent of the total average [#permalink] New post 22 Sep 2017, 07:18
Carcass wrote:

Approximately what percent of the total average annual income (before taxes) of retirees was spent on meats, poultry, and seafood (consumed at home)?

(A) 7%
(B) 10%
(C) 20%
(D) 23%
(E) 31%


If what we are looking for is the percentage of meats, poultry and seafood consumed AT home, how can it be answer A?

PankajPatel wrote:
If you see the above graph,the percent of annual income for food away from home is 3% and the total percent of annual income for retirees is 40% .

Therefore, to calculate percent of the average annual income (before taxes) of retirees was spent on meats, poultry, and seafood (away from home) only =3/40
Multiply both numerator and denominator with 2.5, we get 7.5 percent out of 100 percent.Approx answer is 7%.


This explanation too is wrong since it is focused on food AWAY from home.

Is there an error in the question or in the OA?
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Re: Approximately what percent of the total average [#permalink] New post 10 Sep 2018, 04:31
is the answer supposed to be B? since 23% of $19.83 is $4.5609, the total income is $49.575 (if $19.83 is total expenditure which is about 40% of the total income). then $4.5609 is about 9.1% of $49.575.

i'm probably wrong though. cause the answer that is given is A.
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Re: Approximately what percent of the total average [#permalink] New post 10 Sep 2018, 09:08
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This is a tough question and the explanation above is correc t but badly formulated.

We have to use the chart and the graph, both.

1) Starting from the chart we do have that retirees spend 23% of meats, poultry, and seafood (consumed at home) but this 3 categories are included in a vast category of household expenditures which, as it turns out, comprises of: food at home. food away from home, personal cares items and housekeeping.

2) Now look at the chart: the bar at the outermost right have the categories above plus gasoline and other fuels which must NOT be counted in the ballpark. The total sum is about 41% minus these two categories we do have about 29 %.

3) finally, 23% of the chart over 29 % of the graph we do have: 0.23*0.29=0.667 which is about 7%

The answer must be A

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Re: Approximately what percent of the total average [#permalink] New post 03 Nov 2018, 08:31
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Do we not need to change weekly expenditure to yearly/annual anywhere in the procedure?
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Re: Approximately what percent of the total average [#permalink] New post 16 Nov 2018, 19:02
Any one please make it clear?
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Re: Approximately what percent of the total average [#permalink] New post 18 Nov 2018, 12:19
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I do think the caption at the top the chart "average weekly" is deceptive.

There is any clue in the question that leads us to a possible conversion.

I do think, looking closer to the chart, the relationship is the percent of food and household expenditures. This category comprises also food at home which is for retirees 23%. (black arrow)

This 23% could be expressed as $19.83 spent on average weekly.

However, there is not a clear relationship that they spent $19.83 and this is equal to 23% on food weekly. The chart just says that the have food at home which is 23% of the overall food. They spent a certain amount weekly.

Hope now is more clear.
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Re: Approximately what percent of the total average [#permalink] New post 24 Sep 2019, 21:50
How did you get 29% ? Could you please explain?
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Re: Approximately what percent of the total average [#permalink] New post 25 Sep 2019, 00:34
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See my explanation above https://greprepclub.com/forum/approxima ... tml#p24583

whet 29% comes from.
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Re: Approximately what percent of the total average [#permalink] New post 21 Oct 2019, 00:30
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We are given percent of average annual income spent on food & household and on some other stuff . Whatever is not in the second table is included in the expenditure on other stuff. The first table tells us that around 29% of annual income is spent on household and 11 percent on other stuff. Second table gives us weakly average expenditures on household. Take the average and multiply by 52 to get the annual average expenditures on household. Now when we get average annual household expenditures, table one tells us these annual household expenditures make up only 29% of the total average income spent. To get total average annual income, divide 19.83*52 by 0.29 . Now we have the total average annual income.

retirees spent 0.23 of 19.83*52 annually on average on poultry and meat at home. divide that by total annual income to get the answer.

0.23*52*19.83/ (19.83*52)/0.29 which is around almost 7 %.
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Re: Approximately what percent of the total average [#permalink] New post 17 Sep 2020, 05:12
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From bar chart, Food at home (before taxes) = 19.5%
From table, Total Food at home = 23% + 29%+ 14% = 66%
So, Meat, Poultry and Seafood = 23/66

And % consumed of avg. total annul income = (19.5/100) * (23/66) = 6.8% = 7%
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Re: Approximately what percent of the total average [#permalink] New post 15 Oct 2020, 22:39
Carcass wrote:
This is a tough question and the explanation above is correc t but badly formulated.

We have to use the chart and the graph, both.

1) Starting from the chart we do have that retirees spend 23% of meats, poultry, and seafood (consumed at home) but this 3 categories are included in a vast category of household expenditures which, as it turns out, comprises of: food at home. food away from home, personal cares items and housekeeping.

2) Now look at the chart: the bar at the outermost right have the categories above plus gasoline and other fuels which must NOT be counted in the ballpark. The total sum is about 41% minus these two categories we do have about 29 %.

3) finally, 23% of the chart over 29 % of the graph we do have: 0.23*0.29=0.667 which is about 7%

The answer must be A

Regards


Thanks well explained
Re: Approximately what percent of the total average   [#permalink] 15 Oct 2020, 22:39
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