**It would take a Brooklyn native 10 seconds to tell a stranger they’re from New York, and it would take a Manhattan native 2 seconds to tell a stranger they’re from New York. If the two New Yorkers were able to combine their speaking abilities, how many seconds would it take both natives working together, at their respective rates, to tell a stranger they’re from New York?**

This is a group work problem in which we must determine how long it would take multiple entities working together at differing rates to complete a task. To do this, we must determine what fraction of the job each New Yorker will complete in a certain amount of time. For example, given 10 seconds, the Brooklyn native would complete the task at hand. But given 5 seconds, he would only finish 5/10, or 1/2 of the job. We can see we simply divide the time elapsed by how long it takes to finish the job and this tells us the fraction of the job completed by either individual. Thus in t seconds,

represents the fraction of the task the Brooklyn native will complete. Similarly,

represents the fraction of the task the Manhattan native will complete given the same t seconds.

As a result, we can say that if we add together the fractions of the job each New Yorker completes in t seconds, we want them to finish telling the stranger they’re from New York, or finish 1/1 of the job:

To add fractions together, we need a common denominator, in this case 10.

As a result, we see that the two New Yorkers magically combining their speaking abilities together would allow them to inform a stranger of their roots in a mere 5/3 seconds.

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]]>This problem asks us about an arrangement of things where order matters, which tells us that this is a permutation problem. Permutation problems can be solved using a method we call the “slot method.” This method has us draw a blank for each choice we need to make. In this case, we have 7 seats to fill in our unstoppable tank, so we will draw 7 blanks:

___ ___ ___ ___ ___ ___ ___

Each blank will represent one our seats. Now, we want to fill in the number of options we have for each seat. Since the first seat must have one of our two point guards, we put a 2 in our first blank. The last seat must also have a point guard, but since we have already assigned one of our point guards to the first seat, we only have one choice for the last seat. We then put a 1 in the last blank.

___2___ ___ ___ ___ ___ ___ ___1___

Now for each of the remaining seats, we must have a center. Since we have 5 centers, we have 5 different choices for who sits in the second seat. We put a 5 in the second blank. Once a center is assigned to the second seat, we have 4 centers remaining to choose from for the third seat. We put a 4 in the third blank. This trend continues until we our blanks appear as follows:

___2___ ___5___ ___4___ ___3___ ___2___ ___1___ ___1___

Once all blanks are filled in, we simply multiply all of our numbers together:

Thus, there are 240 different ways to seat our seven players in the tank.

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]]>As the weather turns cooler, you may discover other things in your business school that will give you chills. Ghosts, specters, ghouls, poltergeists, and other paranormal phenomena haunt the halls of many universities and schools across the country. Could you have been sitting next to a less-than-lively learner at your last lecture? While the chances of seeing the supernatural increase with the age of the school, even younger locations can have apparition appearances. Find out if your school is among the most haunted in the United States by checking the list below.

**University of Florida**

The University of Florida’s business school, Warrington College of Business, is not itself the site of hauntings, but other buildings on the University of Florida campus are. According to urban legend, a woman in the 1960s threw herself from her room in the Beaty Towers dormitory. Another dormitory, Thomas Hall, is said to still house the spirit of a past janitor who makes frightening moaning sounds through the radiator pipes, especially during the summer when the heating system is turned off.

**University of Virginia **

The University of Virginia’s main campus in Chancellorville, Virginia, is home to the school’s haunted library. The business school, Darden School of Business, is also located in the same town, and you might find yourself in a study session at the library beside a ghost. Alderman Library is said to host the specter of a doctor who had befriended a man from the Garnett family who bequeathed his collection of books to the university and for whom the Garnett room is named. Another doctor, Dr. Bennett Wood Green, who served the Confederacy as a surgeon, is also said to still roam the halls, decades after he left the world.

Another part of the University of Virginia that adds to the creepiness of the campus is the campus cemetery. Most schools do not create a space on their land for the dead, but a typhoid epidemic in the 1820s forced the school to make use of the land. Unfortunately, local medical students knew of the ready supply of fresh cadavers for their studies, and a black market in corpse stealing arose. At the time studying anatomy on corpses was illegal, but it was also one of the best ways for students to learn. Today, grave robbing is not the lucrative business it once was, mainly because studying donated corpses has become the norm for medical students, but this still does not hide the fact that many of those laid to rest in the University of Virginia’s campus cemetery found their eternal rest to be much shorter than expected.

**University of Alabama **

The Manderson Graduate School of Business at the University of Alabama offers programs at both the Huntsville and Tuscaloosa locations, but it’s at the Tuscaloosa campus that you are most likely to encounter a phantasm. The Little Round House on campus was said to be the site of war atrocities against a Union solider who attempted to pass a message of parlay to the Confederates who were on the campus. The Rebel soldiers captured the Union man, tortured and eventually killed him. The Union solider is said to still wander the campus in the area of the Little Round House, crying out against his unjust murder.

**Fordham University – Rose Hill Campus**

The Rose Hill campus, which is also where you will find the Gabelli School of Business, is reputed to be where a campus building was constructed atop morgue tunnels. According to the *Colombia Spectator*, the tunnels are located beneath Keating Hall. The entire Rose Hill campus took over the site of a former hospital from the 1830s. Keating Hall is the hot spot for spectral cold spots and other supernatural occurrences. A security guard was scared out of his job after witnessing chairs flying around the room of their own accord. Students who have visited Keating Hall have reported feeling that they are being watched or experiencing a sudden chill during the heat of summer. Spectral hands have also been said to reach out to students’ shoulders on the third floor of Keating Hall. If attending Fordham University, be prepared for some unusual experiences in this building of the Rose Hill Campus.** **

Before you can add your own ghostly encounters to the annals of these business schools and others, you will first have to be admitted to the school. The GMAT exam can be a frightening enough experience for many, but the professionals at Testmasters are here to help allay your fears and help you to conquer the test.

Sources:

https://exemplore.com/paranormal/Top-Ten-Haunted-Schools-in-America

http://uvamagazine.org/articles/ghoulish_grounds

http://columbiaspectator.com/2005/10/28/haunted-new-york

__http://www.onlineschoolscenter.com/50-haunted-colleges-campuses/ __

**A junior investment banker is paid hourly for her work at Sisyphus, Inc. If her current hourly rate were to be increased by $300, 30 fewer hours of work could be bought for $10,000, excluding income tax. What is her current hourly rate?**

This is a particularly tricky problem that requires us to not only figure out just what exactly is trying to be said, but also requires us to set up a system of equations for our two unknown variables. In this case the two unknowns we have are the investment banker’s current hourly wage and how many hours she is working. We will assign the variable R to her hourly rate, and the variable H to her hours worked.

We calculate earned income by multiplying the hourly rate by hours worked. Since she currently works H hours at a rate of R dollars per hour to earn $10,000, we get:

We are then told that were we to increase her rate R by $300, it would take her 30 fewer hours H to earn $10,000, yielding the following equation:

We expand this equation and get:

We can then substitute directly from our first equation to get the following:

Let’s take a second to tie everything together. After the work we’ve done, we now have the following system of equations:

We will now solve this by using the substitution method. From the first equation, we can say:

Substituting for H in our second equation, we get this single variable equation:

To simplify the large numbers we have, let’s divide both sides by -30:

Now we need to get rid of that R in the denominator, which we will accomplish by multiplying everything by R, yielding a quadratic equation:

While unwieldy, this expression factors quite nicely:

OR

Since it would not make a whole lot of sense to say our investment banker is earning -$500 each hour, it stands to reason that she currently earns a tidy $200 per hour.

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]]>When applying to business school, one of the first things you should carefully consider is what type of MBA program you should pursue. There are two traditional MBA paths: part-time and full-time, and a more modern option known as the Executive MBA (EMBA), which is usually offered for a couple of days a week over two school years, making it almost a hybrid of full and part time courses. Learn more about each to determine the best option for you.

**Traditional Full-Time MBA**

Traditional full-time MBA programs are usually the first ones that come to mind when someone says they are going to attend business school. Students in a full-time MBA program will usually complete their entire program in two or fewer years, are usually expected to live near or at the school they attend, and will face a more demanding and rigorous course schedule. And while you will not be able to work, there are significant advantages to pursuing a full-time MBA program over other options. Perhaps the most significant is the increased likelihood of receiving financial aid. According to the GMAC, of the full-time MBA programs, 94% have merit-based scholarships, 41% have fellowships available, and 55% provide assistantship positions, like that of a Teacher Assistant. Another perk of full-time programs is the availability of internships over the summer between academic semesters. This is a great way to get your foot in the door of a business before you graduate. You also have more flexibility in the courses you choose, and people from more backgrounds are usually accepted into a full-time program.

Instead of a two-year commitment, you could condense your full-time MBA into a single year, but this will require you to take more highly specialized classes rather than choosing from a selection of business and elective classes. These programs also do not allow enough time to complete an internship, but you will finish your studies in half the time. Depending on your career goals, a single-year full-time MBA might be the best option for you.

**Traditional Part-Time MBA**

If you find that you cannot spend two years away from your job, consider a traditional part-time MBA. These programs allow you to continue to work full-time during the week while offering you classes at nights and on weekends. For the average student, it could take up to five years to finish a part-time MBA program.

Aside from being able to take classes outside of a traditional work week, part-time MBA programs are also easier to gain admission to because these programs typically have lower GPA and GMAT requirements than full-time programs.** **

**Executive MBA (EMBA)**

The Executive MBA program is almost a hybrid of part and full time courses, but the biggest difference is that an EMBA requires several years of business experience. Most people who enter these types of programs have been in the workforce for at least 10 years and are usually in their 30s or 40s. The structure of EMBA programs is usually all day on Fridays and Saturdays for two years, which can take a toll on those with obligations outside the office either to their families, volunteer duties, or leisure activities. Due to the rigor of this program and the frequent company sponsorship of students, the financial expenses of an EMBA often exceeds other types of MBA. Since many companies often pay at least some of the price for their employees to go through this program to get a work promotion, you will likely not have to pay the entire cost yourself.

Regardless of the type of MBA program you choose, consider how much time you have available to devote to your education and job. Do you need to work full time or can you take MBA classes full time? Are your GMAT scores and GPA high enough to get into a full-time program, or should you seek easier admission into a part-time MBA? The answers to these questions and many others will help you to narrow down your choices before finalizing your decision on an MBA program that will fit into your lifestyle and career. Regardless of which option you choose, let the experts from Testmasters help you to prepare for your business school admissions exam.

]]>There are a few things you should do when it comes time to sign up for the GMAT exam. First, and foremost, read through the terms and conditions in the GMAT handbook. You will have to agree to these before signing up for an exam. If you have not done so already, select which business schools you are interested in attending. These should be the school where you want to send scores to after you finish your test. Do a bit of research to see if your practice scores fall into the expected score range of students in the MBA programs at that school. The school should also help you to fulfill your personal career goals.

For the exam application process, if you have any special needs, those must be settled with the GMAC before you sign up for an exam. For more information about special accommodations testing, see the GMAT’s page to “Register as a Test Taker with Disabilities.” The documentation for any accommodations should be in place before you sign up for the exam.

The first step in the sign up process is to create an account on the GMAT’s website. This will allow you to see electronic scores, do extra practice, and sign up for a test date. Once logged in, go to the official GMAT registration page to find a location and testing time that will work with your schedule. Make sure that the date allows you enough preparation for the test and occurs at least three weeks before your business school application is due. It usually takes 21 days for schools to get your GMAT scores. You will also need to pay the full exam fee of $250 when you register.

While you are waiting for your test date, consider how you will get your mind ready to tackle the test. Test preparation depends making the most of your study time. Do you need help from a teacher in a classroom environment or will individual help on specific questions be a better choice to help you optimize your score? Think about signing up for a full GMAT course from Testmasters or registering for individual tutoring sessions. You should never take the GMAT exam without being completely ready for it. The first time you take the exam should not be the first time you have ever seen GMAT material. With preparation courses and tutoring, you can help to make sure that the first time you take the GMAT, your score will be your personal best.

Once registered, you should receive a confirmation letter. If the information on this letter is incorrect in any way, you must change it before the exam by contacting the GMAC; otherwise, you will not be admitted into the testing facility.

Signing up for the GMAT is the easy part, putting in the preparation for the exam and your future MBA program is the more challenging part.

]]>This type of problem expects us to express a relationship between multiple variable by writing an equation that translates what our word problem tells us. This will likely be much easier if we simply choose values for each of our variables as we work through the problem.

We will start by choosing values for t. If each employee produces one unit of false hope every 30 minutes, we can calculate that each employee will produce 2 units each hour. If it takes merely 15 minutes instead, each employee will generate 4 units each hour instead. In other words, we see that dividing 60 minutes by the time it takes each employee to generate 1 unit, we get units per hour for one employee:

However, this is just for one employee for 1 hour. Say we have 10 employees. We must then multiply by 10 to calculate how much false hope all 10 employees will generate in 1 hour. But since we have x employees rather than 10, we would multiply by x instead:

Finally, we must figure out how much false hope all employees generate in not just 1 hour, but in our brief 17-hour work day. We must multiply our hourly output by 17 to get our final answer:

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**GMAT for Business School**

Up until the GRE was revised in 2012, the GMAT was the only test you could submit when seeking admission into an MBA program. Business schools would use your GMAT to see how you directly compare to other applicants. To help you select a school based on your scores, schools would release ranges for the GMAT. After the GRE was revised, the GMAT added the integrated reasoning section, and otherwise sets itself apart with data sufficiency questions and the prohibition of a calculator on the math section. If you are certain that you want to go to business school and not seek another degree, take the GMAT, as doing so lets schools know that you are committed to obtaining your MBA.

**GRE for Business School **

While in the past, many MBA programs refused to accept GRE scores, that is no longer the case. The GRE, or Graduate Record Exam, is the general admissions exam for students applying to graduate school. Students who are uncertain about going to business school or graduate school should take the GRE as it has much broader applications. Educational Testing Services (ETS), the company that makes the GRE, wants everyone to know the usefulness of the exam. That is why it puts on its website a listing of the business schools that accept GRE and GMAT scores for admission. When comparing the GMAT and the GRE, keep in mind that the GRE has a second essay, a greater emphasis on vocabulary, no integrated reasoning section, and you can use an on-screen, four-function calculator for the math section. It also includes quantitative comparison questions on the math section, and does not have the data sufficiency question type found on the GMAT.

When considering whether the GRE exam is a good test for your desired business school, of particular note and consideration should be any restrictions the university may have. For example, some business schools will accept the GRE (and sometimes even the LSAT) if you completed that exam more than six months prior to your application; otherwise, they might require the GMAT. It is always a good idea to check with the universities you will apply to when before making any substantive decisions.

If you are looking to get into business school, the good news now is that you have a choice of exams to take. Testmasters has help available. The experts at Testmasters offer courses and individual help for both GRE and GMAT test takers.

]]>**If Keynes was three times as old as he is now, he would be 10 years younger than Hayek. If Hayek is 50 years older than Keynes, how old is Keynes?**

This word problem tests our ability to assign variables to unknown quantities and translate the relationships described between these variable into equations. Our first step is to identify the unknown quantities and assign a variable to each. Generally, for age problems such as this one, our unknowns will be the current ages of the people involved. In this case, let K represent Keyne’s current age and let H represent Hayek’s current age. Now we must determine what relationships are described between these two people’s ages and create an equation for each relationship.

Our problem states, “If Keynes was three times as old as he is now, he would be 10 years younger than Hayek.” In other words, if we multiply Keyne’s age by 3, we would get the same number as if we subtracted 10 from Hayek’s age, or:

Next, we are told that Hayek is 50 years older than Keynes, or that if we take Keyne’s age and add 50, we get Hayek’s age:

This gives us a system of equations. Of the two most common methods for solving a system of equations (substitution and elimination), substitution seems to be the easiest method for this system. As such we will substitute K + 50 in for the H in our first equation, since we know these two quantities to be equal. This gives us the following equation:

We then solve algebraically for K:

This gives us our final answer: Keynes is currently 20 years old.

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Work experience is an important part of your application for business school. If you don’t have work experience, you may find it to be more difficult to get into business school, but it is not impossible. If you intend to go to a full-time one or two-year program, you will need to have work experience. The course schedules for these programs often do not allow for work during the school year, but the two-year program does give you a summer off to do an internship. Part-time programs offer a little more flexibility because you can work full time while taking classes.

Your work experience can include internships or paid jobs, but perhaps more important than just working before business school is the type of work. Being a business leader in whatever job you have can reflect well on your business school application, but if you don’t have work experience of any sort, don’t worry. Business school applications have multiple parts for a reason. Your recommendations, GMAT score, GPA, work experience, and essay all play a role in whether or not you get into a school. You may be able to get into business school without work experience if you excel in other areas of your application, but keep in mind that some programs, especially the top schools, often require several years of experience in the business world before applying, with many schools’ admitted students having an average of about five years of work experience. If you would like to go to a top tier school, we would strongly recommend working first. However, if you are more concerned with convenience and location, your work experience may not be as large of a factor in your admittance into your school of choice. Just keep in mind that it is possible to “balance out” your application – if you are lacking in certain areas, like having no work experience, you just need to make sure you excel in other parts of your application.

To make your application shine if you don’t have work experience, you will want to focus on getting a great GMAT score as well as finding important people to write your recommendations. While Testmasters cannot write a recommendation letter for you, we can help you with improving your GMAT score to put your best foot forward when you apply to business school.

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