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SALES METRICS: The sales team tracks deal sizes. What is the average contract value (ACV) for new customers in Q3? (1) Total new customer revenue in Q3 was $1.68M from 28 new customers (2) The median contract value was $55K and the mode was $48K

GMAT · 2022 · Data Insights
Question:
SALES METRICS: The sales team tracks deal sizes. What is the average contract value (ACV) for new customers in Q3? (1) Total new customer revenue in Q3 was $1.68M from 28 new customers (2) The median contract value was $55K and the mode was $48K

Options

(A) Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient
(B) Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient
(C) BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient
(D) EACH statement ALONE is sufficient
(E) Statements (1) and (2) TOGETHER are NOT sufficient
Answer: (A) Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient

Explanation:
Statement (1): ACV = $1.68M/28 = $60K. Sufficient. Statement (2): Median and mode do not provide the average (mean). Insufficient.

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