Guesstimates help!
Hey guys, so I have an interview coming up with the MBB and was wondering what everyone's opinions on guesstimate questions is. The trouble I'm having is choosing the right approach to solve them e.g choosing between the detailed drill down or very high level approaches-which ones do the interviewers really seek? This plea for help is especially directed at those who have had some experience with MBB interviews and can share their perspectives. Thanks!
My technique :
1)be as detailed as possible 2)always pick easy numbers, and round the numbers 3)understand what you have to guess and what you have to calculate 4)if you are not sure of an assumption check with the interviewer 5)say all the steps out loud 6)use the paper to calculate if you need
To illustrate: There is this classic question about how many pingpong/golf ball you can put in Boeing 777.
You will have to guess the size of the ball or the length of the plane. But you can't just guess how many balls you can line in a plane.
If you are not sure about the length of a plane you can give a range and ask to the interviewer if it makes sense. For instance, if you are not comfortable in saying that the length is around 70 meters. Then you can say that you guess that a Boeing 777 should measure between 50-80 meters and ask if 70 is a good assumption.
Also there is a difference in checking an assumption and asking the answer...
Keep in mind that when you have to guess the interviewer will never correct you if you are more or less 20-30% right. So you can round your numbers.
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