How to Solve Guesstimate Questions in Interviews: Estimate the Number of Iphones sold?
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- čas přidán 5. 09. 2024
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The given guesstimate approach is one of the ways to solve the problem, there can be other ways to solve the same problem. This will help you in guesstimate case interviews.
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Bhai ye to paid hai.....tumne to free bola tha...?
Here's my guesstimate solution -> No of iphones sold
Let's assume
Population of India is 1.5 Billion
Rural Population 60
Urban Population 40
Age Between 15 - 65 percentage 60 in Rural
Age between 15 - 65 percentage 50 in Urban
Let's devide population in to three categories,
In Urban
one who can't buy iphone ->> 70
One who can buy iphone but buys only when required. ->> 24 Category 1
One who definitely buys one iphone a year ->> 6 Category 2
In Rural
one who can't buy iphone ->> 90
One who can buy iphone but buys only when required. ->> 6 Category 1
One who definitely buys one iphone a year ->> 4 Category 2
Now lets consider Category 1 buys 1 iphone in every three person. and Category 2 buys 1 iphone each.
Now
Total phone buying population in rural india - 0.60*0.60
Total phone buying population in Urban india - 0.40*0.50
Category 1 iphone buyers in rural - 0.60*0.60*0.06/3
Category 2 iphone buyers in rural - 0.60*0.60*0.04
Category 1 iphone buyers in Urban - 0.40*0.50*0.24/3
Category 2 iphone buyers in Urban - 0.40*0.50*0.06
Total iphone buyers in rural - 0.60*0.60*0.06
Total iphone buyers in urban - 0.40*0.50*0.14
Total iphone sold in India is - (0.60*0.60*0.06+0.40*0.50*0.14) * 1.5 billion -> 63600
We can ask questions like
1 Total iPhone sales by either EMI or cash?
2 Total iPhone sales in online or offline?
3. Total iPhone sales on particular festival?
yeah, these are good questions, showing that you can think on multiple dimensions.
Great job in explaining the numbers. When you assumed 40% of upper middle class, interviewers generally ask.. why did you take 40%? Why not 50%? What could be a possible explanation for this?
Let me tell you my explanation I think for the upper class we assume 90% would opt for some big brand like apple or Samsung and other 10% might buy from some other brand (which is kind of fair assumption) apple as is a costly product though and we being conservative in our calculation 40% is good number.
estimate number of songs in india per week in BAIN AND CO
thank you very well explained , liking your approach of solving the guesstimates
Thanks you keep watching
Very well explained, these are helping me a lot
Great to hear!
Very well explained, keep posting videos
Thanks a lot! keep watching
@@technomanagers Can you also make videos on Profitability Case Interviews?
@@priyankadalmia7629 yes sure we are planning to create content on Product Management Interview and Management Consulting Interview
how much cash is flown in india in a day from atms only, answer this guesstimate
this question is asked in ZS associates in their recruitment process, I couldn't answer this
Sure will do that, 3 questions are in pipeline, after that will pick this up
but sir most iPhone user tend to change their iPhone yearly with the announcement of new model, lets say 80%
your ans id 6M whereas the actual data is 150 million units for fiscal yr 2K23
using my approach I'm getting 400M
Hi , do you have any resources for guesstimate practice?
Yes we have a sample book, please provide your gmail ID, I will share.
Why didn't you consider the market share of the iphone in this ??
how many bedsheets are required by 5 star hotels in a month in delhi
I think we should also include upper-class users from rural areas. We can allocate a smaller percentage, but they are purchasing phones, especially in the age group we are considering.
Yes Pranav, we can go more granular and it will be more accurate.
Does it include iPhone from stores only or resaled
can we apply the resale logic in this questions as well
very well explained
Keep watching
Hare Krishna bhaiya 😊
Thank you so much 😊
Thank you for sharing
Very well explanation...
Glad you find it useful
you need a good quality microphone ..... thanks for the video
Hi, Is no. of iphone users and no.of iphone sold same?
No they are not, definitely no. Of iphones users would be more than no. Of iphones sold
Number of clocks in Lucknow
Number of swiggy orders in Lucknow
lucknow se bahar bhi duniya hai.
@@Nitin-yy6sh 🤣🤣
Can you make a video for No. of tennis balls bought in India in a month?♥♥♥♥
_On a very high level this is what I can think of_ -
*Number of balls bought* ≈ Urban population (%) * Age group (%) * Participation rate (%) * Play sessions/month * Balls/session * Players/urban area * Number of urban areas / Ball lifespan (months)
why did we divide it by 80 under age section? Please explain.
Assumed that people are uniformly distributed among age. Assumed maximum age to be 80 that’s where we need to divide it by 80
@@technomanagers Thank you so much for your promot response. I got the concept behind , that we assume the maximum age to be 80 but I still havent understand why did we divide 80.
Since it is uniformly distributed, think it 400 million people has to be filled between 80 slots (0-1, 1-2, 2-3 …… 79-80). All slots will have equal people ( uniformly distributed) that’s where we need to divide it by 80 to get people in 1 slot. Then we multiply it by 45 because between 15 to 60, 45 slots would be there. I hope this is clear.
hello Sir,
could you help me with a mock interview, I have an Product Analyst Inter interview this month.
Sure let’s connect, book a slot on topmate
Estimate the no of refrigerators sold in India in a year
Sure will create video on this
Good resource
Thanks
Please share
great
Glad you find it useful
well explained! can i get a mock interview or solved guesstimates list
Find here topmate.io/technomanagers