Question 457224: Ms. Edwards and three other students decided to invest part of their college fund in to the stock market.they all chose one big name stock to invest in, and each invested $1,000.00. after one month, they checked the stock listings to see how they did. it turned out that three of them came out ahead and the fourth lost money. from the clues below, determine the full name of each woman, which stock she invested in, and how much each woman made or lost.
1. two people made more money than the woman who invested in ibm
2. Ms. Kortright did not invest in att, but the woman who did made the most money.
3. Vickie made $700. which made her the big winner.
4. Ms.Mcdonald lost $300, and tina made $200.
5. Nita did not invest in xerox.
6. the woman who invested in ford was the only one who lost money.
7. Luann, who is neither Ms. Kortright nor Ms.Mcelhatton, made $300 less than vickie
Answer by bucky(2189)   (Show Source):
You can put this solution on YOUR website! This is not really a problem in mathematics. It is a logic puzzle.
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Start by identifying the key categories as follows:
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Last Names (four): Edwards; Kortright; McDonald; Mcelhatton
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First Names (four): Vickie; Tina; Nita; Luann
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Stocks Purchased (four): ATT; IBM; Ford; Xerox
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Now let's try to arrange the stocks in a descending order according to the money that was made on each:
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Clue #2 states that the most money was made by the woman who bought the ATT stock, and clue #3 says that the big winner made $700. It also says that the first name of the buyer of that stock was Vickie.
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Clue #6 says that the only stock that lost money was Ford, and clue #4 says that the only woman who lost money, was named McDonald, and she lost $300.
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Clue #4 says that Tina made $200 and clue number 7 says that Luann made $300 less than Vickie. Since we previously found that Vickie made $700, then Luann made $300 less than that or $400. We also know that Tina made $200. So in summary we know that the amounts of money made in descending order were $700, $400, $200, and -$300. Furthermore, we now know that ATT made $700 and Ford made -$300.
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Clue #1 says that two people made more money than the woman who bought IBM. Therefore, IBM is third in the order.
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Since we know ATT was number one on the list ($700), Xerox has to be number two ($400), IBM number three ($200), and Ford (the only loser at -$300) is number four and in last place.
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Now let's searching for the full names. We have already established that ATT was owned by Vickie. Clue #4 says that Tina made $200, so Tina owns the IBM. Clue #7 says that Luann made $400 ($700 less $300), so Luann owns the Xerox stock. That means that Nita (the only first name left) owns the Ford stock. But Clue #4 says that Ms McDonald lost $300. That means that she owned the Ford stock. So we know that the Ford stock was owned by Ms Nita McDonald, and that is one of the names we are looking for.
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Clue #7 says that Luann is not Ms Kortright or Ms Mcelhatton, and we know that Ms McDonald's first name is Nita. Therefore, Luann's last name has to be Edwards. Ms Luann Edwards is the second full name.
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The remaining last two names are Kortright and Mcelhatton. Clue #2 says Ms Kortright did not invest in ATT. We know only that the first name of the ATT owner is Vickie, and since Kortright is not the ATT investor, the last name of the ATT owner must be Mcelhatton, and therefore Ms Vickie Mcelhatton is the third full name.
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The only first name we have not used is Tina. And the only last name we have not used is Kortright. So the last of the four names is Ms Tina Kortright.
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The answer to this puzzle is that the four names are:
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Ms Vickie Mcelhatton
Ms Luann Edwards
Ms Tina Kortright
Ms Nita McDonald
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Hopes this helps you to see how to analyze problems like this by carefully studying each and every clue that you are given.
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