guess estimation questions and answers pdf

Guess Estimation Questions And Answers Pdf

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Guesstimates have now become an important part of several interview processes and B-School competitions. They are also a lot of fun! The process of solving a guesstimate problem is pretty simple: Look at the possible parameters that may affect the final quantity, and estimate its numbers. Guesstimate the quantity of chocolate in all its forms used in Delhi in a day.

Guesstimate

This kind of case interview question may appear challenging and even irritating at first, but once you know which steps to take, they will become much more enjoyable. Successfully answering these questions relies on a combination of mental math , logical thinking, problem-solving skills, and background knowledge. Market-sizing questions ask the candidate to estimate the market size e. Good command of math, logic and problem-solving skills is needed, along with background business knowledge. In consulting case interviews and other job interviews as well , the guesstimate questions ask you to do just that! In fact, they are among the most popular case interview questions.

Guess Estimate Questions

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If you're in a B-School and are appearing for your Summer Placement Interviews or Final Interviews, Guesstimates play an important part in any consulting or analytics interview. It gives the panellist a peek in your problem solving and thinking abilities. The focus is more on the approach than getting the answer right.

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You can divide the airport area into three part, one the building waiting room, airport control room , other one is runway and some open spaces. So one runway length is 2 km and suppose there are 10 runways so 20 km. So runway is 20 km Hence open space 25 km Building 5 km Total 50 square km.

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BRAINTEASERS AND GUESSTIMATES

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But, what are the pre-requisites is still unknown! Well, this can be answered later, but there are certain ways in which an employer gets to access the logical and business skills an applicant possesses. Guesstimate is defined as an estimate made without using accurate or complete information, or one arrived at by guess-work or conjecture. NOTE: Any hiring manager would prefer a wrong answer with a better approach than an accurate answer with a bad approach. Find the right proxy : The proxy is a parameter which behaves in a similar fashion as the dependent parameter.

How to Solve Guesstimates

The questions in this chapter are representative examples of Guesstimate Cases. In essence, these questions involve a short case or analysis in which you must try to estimate a value you probably had never considered estimating before. The key to these types of problems is to break them down into logical pieces, walking the interviewer through how you are approaching the problem, and then try to determine appropriate assumptions for the value of key figures in each of those pieces.

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3 comments

Darko B.

Questions like these are very common in analytics and management consulting interviews. If you wish to appear for companies of this genre, you.

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Lori S.

Market Sizing Question: Number of Swimming pool in the UK and Hospital Currently non-active expert. Best answer from on May 31,

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Lisa M.

Guesstimate cases will also form part of many full case interviews, so it is important Using this, you would arrive at an estimate of the number of school teachers, Percent of the population that drinks coffee: this would be an educated guess.

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