guess estimation questions and answers pdf

Guess Estimation Questions And Answers Pdf

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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.

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. Guesstimate cases are generally used as part of a first-round interview to warm a candidate up for a full Business Situation Case later in the interview process. Guesstimate cases are also used as a way to test quantitative ability, numerical thinking and judgment, and an to arrive at reasonable assumptions. With some practice, guesstimate cases are not difficult and once you get accustomed to them, they are actually quite fun, even though at first they might seem a little scary.

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Guess Estimate

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. Step 1 : The Umbrella. There are multiple approaches to this problem: 1. Estimate the consumption side : end customer, grams per person etc.

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.

All questions tagged guess-estimates - Consulting Q&A - PrepLounge.com

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.

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.

Guess Estimate Questions

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