Articles published in September 2014

Manhattan Prep’s Social Venture Scholars Program Deadline: September 26

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free-gmat-classDo you work for a non-profit? How about promote positive social change? Manhattan Prep is honored to offer special full tuition scholarships for up to 16 individuals per year (4 per quarter) who will be selected as part of Manhattan Prep’s Social Venture Scholars program. The SVS program provides selected scholars with free admission into one of Manhattan GMAT’s live online Complete Courses (a $1299 value).

These competitive scholarships are offered to individuals who (1) currently work full-time in an organization that promotes positive social change, (2) plan to use their MBA to work in a public, not-for-profit, or other venture with a social-change oriented mission, and (3) demonstrate clear financial need. The Social Venture Scholars will all enroll in a special online preparation course taught by two of Manhattan GMAT’s expert instructors within one year of winning the scholarship.

The deadline is fast approaching: September 26, 2014! 

Learn more about the SVS program and apply to be one of our Social Venture Scholars here.

Studying for the GMAT? Take our free GMAT practice exam or sign up for a free GMAT trial class running all the time near you, or online. And, be sure to find us on Facebook and Google+LinkedIn, and follow us on Twitter!

Online Open House 9/28: Earn $100/hr Teaching the GMAT, LSAT, or GRE

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teaching career job position competitiveLearn about the rewarding teaching opportunities with Manhattan Prep at our upcoming online open house on September 28th. Here’s the scoop:

We are seeking expert teachers across the US, who have proven their mastery of the GMAT, GRE or LSAT — and who can engage students of all ability levels. All Manhattan Prep instructors earn $100/hour for teaching and tutoring – up to four times the industry standard. These are part-time positions that come with flexible hours, allowing you to pursue other career interest. Many of our instructors maintain full-time positions, engage in entrepreneurial endeavors, or pursue advanced degrees concurrently while teaching for Manhattan Prep. (To learn more about our exceptional instructors, read their bios or view this short video).

Our instructors teach in classrooms and in one-on-one settings, both in-person and online. We provide extensive, paid training and a full suite of print and digital instructional materials. Moreover, we encourage the development and expression of unique teaching styles that allow you to flourish in this excellent opportunity.

To learn more about teaching with Manhattan Prep, please select from one of the following open houses, and follow the on-screen instructions:

Open Houses on September 28th:

To teach the GMAT:

http://www.manhattanprep.com/gmat/classes/details/14132

To Teach the GRE:

http://www.manhattanprep.com/gre/EventShow.cfm?EID=3&eventID=832

To Teach the LSAT:

http://www.manhattanlsat.com/EventShow.cfm?EID=3&eventID=1434

About Manhattan Prep

Manhattan Prep is a premier test-preparation company serving students and young professionals studying for the GMAT (business school), LSAT (law school), GRE (master’s and PhD programs), and SAT (undergraduate programs).  We are the leading provider of GMAT prep in the world.

Manhattan Prep conducts in-person classes and private instruction across the United States, Canada, and England.  Our online courses are available worldwide, and our acclaimed Strategy Guides are available at Barnes & Noble and Amazon.  In addition, Manhattan Prep serves an impressive roster of corporate clients, including many Fortune 500 companies.  For more information, visit www.manhattanprep.com.

 

How to Set Up Your GMAT Scratch Paper

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Manhattan Prep GMAT Blog - How to Set Up GMAT Scratch Paper by Stacey Koprince

Did you know that you can attend the first session of any of our online or in-person GMAT courses absolutely free? We’re not kidding! Check out our upcoming courses here.


A student in one of my classes recently asked me how best to set up his scratch paper while taking the exam, so my first task is to give a shout-out to Robert and thank him for giving me the topic for this article! Read more

Breaking Down B-School Admissions: A Four-Part Series

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Breaking Down B-School Admissions

 

Are You Prepared for B-School Admissions?

Join Manhattan GMAT and three other leaders in the MBA admissions space—mbaMission, Poets & Quants, and MBA Career Coaches—for an invaluable series of free workshops to help you put together a successful MBA application—from your GMAT score to application essays to admissions interviews to post-acceptance internships.

We hope you’ll join us for as many events in this series as you can. Please sign up for each sessions separately via the links below—space is limited.

 

Session 1: Assessing Your MBA Profile,
GMAT 101: Sections, Question Types & Study Strategies
Monday, September 8 (8:00 – 10:00 PM EDT)
Click here to watch the recording

Session 2: Mastering the MBA Admissions Interview,
Conquering Two 800-Level GMAT Problems
Wednesday, September 10 (8:00 – 10:00 PM EDT)
Click here to watch the recording

Session 3: 9 Rules for Creating Standout B-School Essays,
Hitting 730: How to Get a Harvard-Level GMAT Score
Monday, September 15 (8:00 – 10:00 PM EDT)
Click here to watch the recording

Session 4: 7 Pre-MBA Steps to Your Dream Internship,
Survival Guide: 14 Days to Study for the GMAT
Wednesday, September 17 (8:00 – 10:00 PM EDT)
Sign up here.

GMAT Prep Story Problem: Make It Real Part 2

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gmat-quant-help-tips-problemHow did it go last time with the rate problem? I’ve got another story problem for you, but this time we’re going to cover a different math area.

Just a reminder: here’s a link to the first (and long ago) article in this series: making story problems real. When the test gives you a story problem, do what you would do in the real world if your boss asked you a similar question: a back-of-the-envelope calculation to get a “close enough” answer.

If you haven’t yet read the earlier articles, go do that first. Learn how to use this method, then come back here and test your new skills on the problem below.

This is a GMATPrep® problem from the free exams. Give yourself about 2 minutes. Go!

* “Jack and Mark both received hourly wage increases of 6 percent. After the wage increases, Jack’s hourly wage was how many dollars per hour more than Mark’s?

“(1) Before the wage increases, Jack’s hourly wage was $5.00 per hour more than Mark’s.

“(2) Before the wage increases, the ratio of Jack’s hourly wage to Mark’s hourly wage was 4 to 3.”

Data sufficiency! On the one hand, awesome: we don’t have to do all the math. On the other hand, be careful: DS can get quite tricky.

Okay, you and your (colleague, friend, sister…pick a real person!) work together and you both just got hourly wage increases of 6%. (You’re Jack and your friend is Mark.) Now, the two of you are trying to figure out how much more you make.

Hmm. If you both made the same amount before, then a 6% increase would keep you both at the same level, so you’d make $0 more. If you made $100 an hour before, then you’d make $106 now, and if your colleague (I’m going to use my co-worker Whit) made $90 an hour before, then she’d be making…er, that calculation is annoying.

Actually, 6% is pretty annoying to calculate in general. Is there any way around that?

There are two broad ways; see whether you can figure either one out before you keep reading.

First, you could make sure to choose “easy” numbers. For example, if you choose $100 for your wage and half of that, $50 an hour, for Whit’s wage, the calculations become fairly easy. After you calculate the increase for you based on the easier number of $100, you know that her increase is half of yours.

Oh, wait…read statement (1). That approach isn’t going to work, since this choice limits what you can choose, and that’s going to make calculating 6% annoying.

Second, you may be able to substitute in a different percentage. Depending on the details of the problem, the specific percentage may not matter, as long as both hourly wages are increased by the same percentage.

Does that apply in this case? First, the problem asks for a relative amount: the difference in the two wages. It’s not always necessary to know the exact numbers in order to figure out a difference.

Second, the two statements continue down this path: they give relative values but not absolute values. (Yes, $5 is a real value, but it represents the difference in wages, not the actual level of wages.) As a result, you can use any percentage you want. How about 50%? That’s much easier to calculate.

Okay, back to the problem. The wages increase by 50%. They want to know the difference between your rate and Whit’s rate: Y – W = ?

“(1) Before the wage increases, Jack’s hourly wage was $5.00 per hour more than Mark’s.”

Okay, test some real numbers.

Case #1: If your wage was $10, then your new wage would be $10 + $5 = $15. In this case, Whit’s original wage had to have been $10 – $5 = $5 and so her new wage would be $5 + $2.50 = $7.50. The difference between the two new wages is $7.50.

Case #2: If your wage was $25, then your new wage would be $25 + $12.50 = $37.50. Whit’s original wage had to have been $25 – $5 = $20, so her new wage would be $20 + $10 = $30. The difference between the two new wages is…$7.50!

Wait, seriously? I was expecting the answer to be different. How can they be the same?

At this point, you have two choices: you can try one more set of numbers to see what you get or you can try to figure out whether there really is some rule that would make the difference always $7.50 no matter what.

If you try a third case, you will discover that the difference is once again $7.50. It turns out that this statement is sufficient to answer the question. Can you articulate why it must always work?

The question asks for the difference between their new hourly wages. The statement gives you the difference between their old hourly wages. If you increase the two wages by the same percentage, then you are also increasing the difference between the two wages by that exact same percentage. Since the original difference was $5, the new difference is going to be 50% greater: $5 + $2.50 = $7.50.

(Note: this would work exactly the same way if you used the original 6% given in the problem. It would just be a little more annoying to do the math, that’s all.)

Okay, statement (1) is sufficient. Cross off answers BCE and check out statement (2):

“(2) Before the wage increases, the ratio of Jack’s hourly wage to Mark’s hourly wage was 4 to 3.”

Hmm. A ratio. Maybe this one will work, too, since it also gives us something about the difference? Test a couple of cases to see. (You can still use 50% here instead of 6% in order to make the math easier.)

Case #1: If your initial wage was $4, then your new wage would be $4 + $2 = $6. Whit’s initial wage would have been $3, so her new wage would be $3 + $1.5 = $4.50. The difference between the new wages is $1.5.

Case #2: If your initial wage was $8, then your new wage would be $8 + $4 = $12. Whit’s initial wage would have been $6, so her new wage would be $6 + $3 = $9. The difference is now $3!

Statement (2) is not sufficient. The correct answer is (A).

Now, look back over the work for both statements. Are there any takeaways that could get you there faster, without having to test so many cases?

In general, if you have this set-up:

– The starting numbers both increase or decrease by the same percentage, AND

– you know the numerical difference between those two starting numbers

? Then you know that the difference will change by that same percentage. If the numbers go up by 5% each, then the difference also goes up by 5%. If you’re only asked for the difference, that number can be calculated.

If, on the other hand, the starting difference can change, then the new difference will also change. Notice that in the cases for the second statement, the difference between the old wages went from $1 in the first case to $2 in the second. If that difference is not one consistent number, then the new difference also won’t be one consistent number.

Key Takeaways: Make Stories Real

(1) Put yourself in the problem. Plug in some real numbers and test it out. Data Sufficiency problems that don’t offer real numbers for some key part of the problem are great candidates for this technique.

(2) In the problem above, the key to knowing you could test cases was the fact that they kept talking about the hourly wages but they never provided real numbers for those hourly wages. The only real number they provided represented a relative difference between the two numbers; that relative difference, however, didn’t establish what the actual wages were.

* GMATPrep® questions courtesy of the Graduate Management Admissions Council. Usage of this question does not imply endorsement by GMAC.

GMAT Prep Story Problem: Make It Real

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gmat-quant-help-tips-problemIn the past, we’ve talked about making story problems real. In other words, when the test gives you a story problem, don’t start making tables and writing equations and figuring out the algebraic solution. Rather, do what you would do in the real world if someone asked you this question: a back-of-the-envelope calculation (involving some math, sure, but not multiple equations with variables).

If you haven’t yet read the article linked in the last paragraph, go do that first. Learn how to use this method, then come back here and test your new skills on the problem below.

This is a GMATPrep® problem from the free exams. Give yourself about 2 minutes. Go!

* “Machines X and Y work at their respective constant rates. How many more hours does it take machine Y, working alone, to fill a production order of a certain size than it takes machine X, working alone?

“(1) Machines X and Y, working together, fill a production order of this size in two-thirds the time that machine X, working alone, does.

“(2) Machine Y, working alone, fills a production order of this size in twice the time that machine X, working alone, does.”

You work in a factory. Your boss just came up to you and asked you this question. What do you do?

In the real world, you’d never whip out a piece of paper and start writing equations. Instead, you’d do something like this:

I need to figure out the difference between how long it takes X alone and how long it takes Y alone.

Okay, statement (1) gives me some info. Hmm, so if machine X takes 1 hour to do the job by itself, then the two machines together would take two-thirds…let’s see, that’s 40 minutes…

Wait, that number is annoying. Let’s say machine X takes 3 hours to do the job alone, so the two machines take 2 hours to do it together.

What next? Oh, right, how long does Y take? If they can do it together in 2 hours, and X takes 3 hours to do the job by itself, then X is doing 2/3 of the job in just 2 hours. So Y has to do the other 1/3 of the job in 2 hours. Read more