Numbers and Percentages

[Kmikaeli]

On the 2014 edition on pg 525, I do not understand what the statement about percentages and numbers in relation to weakening and strengthening is trying to explain.

Can you help me connect this concept on pg 525 to the question on pg 526 so I can better understand this concept?

[Dave Killoran]

Hi Kmikaeli,

The statement on 525 simply notes that if an argument makes one of the misconceptions discussed earlier in the chapter, you can strengthen or weaken the argument by addressing that fact. In this instance, I'm going to suggest that you go back to the beginning of the chapter and re-read the misconceptions section so you are familiar with what those are; that should make it easier to see who these ideas could be strengthened or weakened.

Thanks!

[Kmikaeli]

So, when it is referring to the total amount within such a statement, its representing what the misconceptions work with. Such as misconception #1 in relation to the statement about analyzing the total amount for strengthening or weakening?

[Kmikaeli]

Market and Market Share-- I am facing a sentence dilemma here. On page 528, it states how "a company can gain market share(%) if the market shrinks and they maintain a constant size, or if they grow in an unchanging market."

Does this mean that the revenue/sales they have shrinks, then there market share percentage will increase?

Also, I do not understand how a company can lose market share relative to the sentence on page 528.

[Dave Killoran]

Market and Market Share-- I am facing a sentence dilemma here. On page 528, it states how "a company can gain market share(%) if the market shrinks and they maintain a constant size, or if they grow in an unchanging market."

Does this mean that the revenue/sales they have shrinks, then there market share percentage will increase?

Well, it means that other factors in the market play a role in determining what occurs. Just because a company's revenue declines doesn't mean they lost market share, nor does it mean they gained market share (either could have happened). The mistake people make is to say that because your revenue went down that it automatically means you lost market share; that is not necessarily the case. You have to look at each situation

Also, I do not understand how a company can lose market share relative to the sentence on page 528.

Which sentence on page 528 did you mean?

Thanks!

[Kmikaeli]

What factor would "market shrinks" and "constant size" be a part of in a question? We know market share is percentage and we know revenue/sales is numbers.

[Dave Killoran]

Let me give you an example, as I'm not totally following your question

Let's say the sales market for kitchen utensils in 2013 is $100 million dollars. Company X has sales of $20 million dollars, and thus has a 20% market share. Then, we discover that in 2014 that Company X has sales of only $15 million. Does that automatically mean that Company X has lost market share? No, because what if the 2014 sales market for kitchen utensils in 2014 is only $60 millions dollars? When that occurs, Company X has actually increased market share to 25% (up from 20%). So, even though their sales were less, they gained market share because the overall size of the market dropped faster.

There are all sorts of different combinations aside from the one above, but all of this revolves around different factors in the market. The lesson is that simply knowing one number doesn't tell you everything.

Thanks!

[Kmikaeli]

That makes perfect sense.

[Kmikaeli]

How do these stimuli with numbers and percentages work with assumption games, flaw in the reasoning games, justify the conclusion, and must be true games? No information pertaining to it is given to us. I believe that assumption questions working with numbers and percentages look at misconception that is taking place within the stimulus and presenting it as the correct answer choice since the misconception is the assumption. We are not tampering with the misconception like strengthening or weakening questions, but just presenting it. Flaw in the Reasoning questions with numbers and percentages appear to find the flaw relating to numbers and percentage such as "exceptional case/overgeneralization" and stating that type of flaw. Next, I believe must be true games look at the answer choice that must be true in relation to the numbers and percentages put forth in the stimulus, which means there will be a lot of paraphrasing/assumptions within the stimulus especially around the idea of misconceptions, but must be accepted because the stimulus is accepted as true in these question stems. Lastly, Justifying the conclusion says it deals with numbers and percentages in its chapter, but I have yet to even see any example of such stimuli and question stem.

Please get back to me ASAP this section bunched up so many concepts of numbers and percentages with the different type of question stems.

[Nicholas Bruno]

Hi Kmikaeli,

I think the main thing to remember with numbers and percentages is that the general approach to answering a particular question type (like assumption) remains the same. But when you see a stimulus with the numbers vs. percentage idea, you also need to think about whether a particular stimulus has one of the numbers vs. percentage errors discussed in the lesson.

I think the easiest way to answer how the numbers and percentages work with the different question types is to point out some past LSAT questions that had these type of questions. Try to work through them and see if that helps at all.

Flaw: December 2003 Section 1, Question 12.
Assumption: September 1995 Section 1, Question 14
Must be True: December 1995 Section 2, Question 24
Assumption: February 1993 Section 4, Question 13

I hope that helps with a general approach to numbers vs. percentages! I know your question is a bit broad so if you have follow up questions, please let me know!