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In a 500-day simulated currency-trading contest, three teams-Teams A,

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Swagatalaxmi
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In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink] New post   Updated on: 23 Apr 2024, 11:31
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In a 500-day simulated currency-trading contest, three teams-Teams A, B, and C-applied automated currency-trading algorithms as the exchange rate data were streamed to their computers in real time. At the end of each day, each team's simulated balance (full-balance), in USD, was recorded. The contest was decided on the basis of these full-balances and their associated half-balances (0.5 times the corresponding full-balance). At the end of Day 500, the teams reported their full-balance and half-balance histories as well as their 500-day average full-balance. This information is shown in the graph.

The winner of the contest was to be the team that earned the greatest number of the following points: 1 point for having at least one half-balance that exceeded another team's same-day full-balance on at least one day; 1 point for having the greatest 500-day full-balance average; and 1 point for having the greatest full-balance at the end of at least 80% of the days. In the event of a tie, the team with the greatest 500-day full-balance average was to be declared the winner.

Select from each drop-down menu the option that creates the most accurate statement.

In the contest, Team was declared the winner after winning points­

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Dropdown 1: A Dropdown 2: 2

Originally posted by Swagatalaxmi on 22 Apr 2024, 12:31.
Last edited by Bunuel on 23 Apr 2024, 11:31, edited 3 times in total.
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Re: In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink] New post   27 Apr 2024, 02:28
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"­1 point for having the greatest full-balance at the end of at least 80% of the days."

How do we find this one out? Team A and B both look like they have similar number of days where they had the greatest full balance. I feel with the graph given, it would almost come down to luck in choosing A.

I chose B with 2 points.

Please let me know if I am missing something.
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Re: In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink] New post   28 Apr 2024, 11:31
First Point:
Team A & Team B both get a point

Second Point:
Team A gets the only point

Third Point:
Team C gets the only Point

"Greatest full balance at the end of at least 80% of the days" is confusing wording. Team C ends up with greatest full-balance hence why I gave them the point.

Totals:
Team A: 2 -> Answer = Team A after winning 2 points
Team B: 1
Team C: 1
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Re: In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink] New post   28 Apr 2024, 23:29
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Am I reading the graph incorrectly?

How is it that the average full balance for team B lower than that for team C?
When we can see that consistently Team B full balances at end of day is higher than that of team C's?

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Re: In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink] New post   30 Apr 2024, 06:42
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T4Star wrote:
Am I reading the graph incorrectly?

How is it that the average full balance for team B lower than that for team C?
When we can see that consistently Team B full balances at end of day is higher than that of team C's?

Bunuel
chetan2u

­Hi, I may not be too aware how these two terms are related: 500 day full balace average and full balance on each day for 500 days. Some one from commodity or currency market may comment on that

But if I look at the term the way they are, the average lines of B and C should be interchanged and would then fit in perfectly. In all probability that is an error in this official question.

Two points
1) Great work in understanding the graph and this would surely help somewhere else. Kudos for that.
2) But if it were actual test, I would say that restrict yourself to the data sought. You would realize that the answer does not change irrespective of the color of the line as they have just been added as additional unessential information. The top line is the only info reuired.
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Re: In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink] New post   02 May 2024, 22:15
 
chetan2u wrote:
T4Star wrote:
Am I reading the graph incorrectly?

How is it that the average full balance for team B lower than that for team C?
When we can see that consistently Team B full balances at end of day is higher than that of team C's?

Bunuel
chetan2u

­Hi, I may not be too aware how these two terms are related: 500 day full balace average and full balance on each day for 500 days. Some one from commodity or currency market may comment on that

But if I look at the term the way they are, the average lines of B and C should be interchanged and would then fit in perfectly. In all probability that is an error in this official question.

Two points
1) Great work in understanding the graph and this would surely help somewhere else. Kudos for that.
2) But if it were actual test, I would say that restrict yourself to the data sought. You would realize that the answer does not change irrespective of the color of the line as they have just been added as additional unessential information. The top line is the only info reuired.

­Thank you for replying! This question was so confusing and I couldn't figure out why my answer was not what it should be! But this is giving me a new anxiety - will there be errors like this in the real GMAT as well??   :dazed
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In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink] New post   03 May 2024, 08:45
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The question is indeed CORRECT.

The correct answer to this is indeed be A wins with 2 points

I had a hard time understanding the 3rd rubric for getting the point in the given game.

1. A & B both get the point since both > full balance of C around day 210
2. A gets the point because it has the greatest FB average.
3. At the end of at least 80% of the days means for at least 400 days if any curve stays maximum that team gets the point. Hence, A,B,C all DO NOT get this point. Logic: 'A' stays maximum for around 150 days, B for 200, C for <50 days.

Total A:2, B:1, C:0

The language makes this VERY HARD to get.­
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Re: In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink] New post   07 May 2024, 00:17
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Swagatalaxmi wrote:

In a 500-day simulated currency-trading contest, three teams-Teams A, B, and C-applied automated currency-trading algorithms as the exchange rate data were streamed to their computers in real time. At the end of each day, each team's simulated balance (full-balance), in USD, was recorded. The contest was decided on the basis of these full-balances and their associated half-balances (0.5 times the corresponding full-balance). At the end of Day 500, the teams reported their full-balance and half-balance histories as well as their 500-day average full-balance. This information is shown in the graph.

The winner of the contest was to be the team that earned the greatest number of the following points: 1 point for having at least one half-balance that exceeded another team's same-day full-balance on at least one day; 1 point for having the greatest 500-day full-balance average; and 1 point for having the greatest full-balance at the end of at least 80% of the days. In the event of a tie, the team with the greatest 500-day full-balance average was to be declared the winner.

Select from each drop-down menu the option that creates the most accurate statement.

In the contest, Team [Dropdown Placeholder #1] was declared the winner after winning [Dropdown Placeholder #2] points­

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Attachment:
Screenshot 2024-04-23 005511.png

­A will get 1 point for highest 500-day average and all three incl A will get 1 point each for half day balace exceeding full day balance of other for any one day.

The last point is given to team if it has daily full balace highest for at least 80% of the days, taht is for 400 days.
For this check the colour of the highest point/line from 0 to 500 days. A has highest for 100-150 and then 300-375, so almost 50+75 or 125 days, it could be slightly more when you calculate accurately but would not be any where close to 400 days.
A>125 days means other two are also not >400 days.

So, no one gets the third point,.

Answer A with 2 points.
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Re: In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink] New post   09 May 2024, 06:00
"and 1 point for having the greatest full-balance at the end of at least 80% of the days" i do not understand why both B and C should not be getting a point for this because they both have periods of high after atleast 80% of the time- can this be explained?
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Re: In a 500-day simulated currency-trading contest, three teams-Teams A, [#permalink]
09 May 2024, 06:00
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