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value of imports shown for 2007 was incorrect

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Joined: 07 Jun 2014
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GRE 1: Q167 V156
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value of imports shown for 2007 was incorrect [#permalink] New post 10 Jan 2016, 17:35
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Question Stats:

75% (01:31) correct 25% (02:01) wrong based on 72 sessions
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#GREpracticequestion If it were discovered that the value of imports shown.jpg
#GREpracticequestion If it were discovered that the value of imports shown.jpg [ 58.61 KiB | Viewed 3431 times ]


If it were discovered that the value of imports shown for 2007 was incorrect and should have been $5 billion instead, then the average (arithmetic mean)value of imports per year for the 10 years shown would have been approximately how much less?

A $200 million
B $50 million
C $20 million
D $7 million
E $5 million



Practice Questions
Question: 7
Page: 163
Difficulty: hard
[Reveal] Spoiler: OA

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Retired Moderator
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Re: value of imports shown for 2007 was incorrect [#permalink] New post 10 Jan 2016, 17:39
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Solution

In 2007 the imports shown in the Graph is $7 Billion. The new corrected value is $5 Billion, hence there is a reduction of $2 Billion. Now over ten years the $2 Billion reduction would amount to $200 Million ($200 Million *10 = $2 Billion).
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Re: value of imports shown for 2007 was incorrect [#permalink] New post 03 Jul 2020, 14:53
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sandy wrote:
Attachment:
#GREpracticequestion If it were discovered that the value of imports shown.jpg


If it were discovered that the value of imports shown for 2007 was incorrect and should have been $5 billion instead, then the average (arithmetic mean)value of imports per year for the 10 years shown would have been approximately how much less?

A $200 million
B $50 million
C $20 million
D $7 million
E $5 million


Given: The graph shows $7 billion for 2007, when it should actually be $5 billion.

One way to solve this question is to estimate the imports for all 10 years (with $7 billion for 2007), and then find the average.
Then estimate the imports for all 10 years (with $5 billion for 2007), and then find the average
Then find the difference between those averages.
This is more work than we need to do.

Since 9 of the values don't change, we can let x = the sum of those 9 values.

Now we'll find two averages:

Average value when we use $7 billion for 2007 = (x + 7)/10
Average value when we use $5 billion for 2007 = (x + 5)/10

So, the DIFFERENCE = (x + 7)/10 - (x + 5)/10
= (x/10 + 7/10) - (x/10 + 5/10)
= 2/10 (billion dollars)
= 200 million dollars

Answer: A

Cheers,
Brent
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Brent Hanneson – Creator of greenlighttestprep.com
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