first krucible

8/12/2019 First Krucible

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GUESSTIMATES

Placements Preparation

GUESSTIMATES


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Case Interview The Success Mantra

Identifying the correct answer is NOT important

There will usually be several credible solutions

What is important? How clearly you define the problem

How logically you structure the analysis

How well you communicate your thoughts

Make your thought process transparent Think aloud

Ask relevant questions

Listen for suggestions & hints

Use your knowledge effectively and hypothesize based on common sense

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Shows your approach to a problem in an analytical fashion and

structured thinking under pressure


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Types of Cases

Provides lots of data and details

Tests candidates ability to distill key issues

Requires depth of analysis based on relevant facts

Provides minimal details

Tests candidates ability to probe for additional details

Requires structuring framework based on new facts

Provides minimal details and asks a key question

Tests a candidates analytic abilities

Requires logical thought process and ease with number

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Other Soft criteria

Poise

Are you confident in your answer? How do you handle yourself when you make a mistake? Do you perform

well under pressure?

Communication

Are you articulate in communicating your thought processes and conclusions with others?

To be a successful consultant, you must be able to clearly communicate your recommendations and articulate

how you were able to arrive at your conclusionsFlexibility

As situations change and new information becomes available, are you able to adapt your thinking to new data

or an emerging environment?

Friendliness/Attitude

Will clients and coworkers enjoy spending long hours with you?

Other Intangibles

Do you display energy and drive? Do you show initiative?

Do you manage time effectively? Do you demonstrate decisiveness? Do you convey a genuine interest in the

career and the firm?

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Guesstimates

Ballpark figures or back of the envelope calculations basically approximations

Independent part of the interview or used during a case

No random figures allowed

May be asked to validate your assumptions

Guesstimates vs. Cases

Similarity

Used to showcase your ability to analyze a situation and form conclusions by thinking out loud

Difference

Case-> ask a series of questions from the interviewer

Guesstimate-> reach conclusion through a series of increasingly specific statements

Why are these asked?

Used to reject hypothesis

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Introduction


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The First Encounter

Do NOT panic

Ask for a moment to compose your thoughts

No need to be exact

Pick nice round numbers that are easy for you to manipulate

Funnel Approach

Think broadly, slowly drill down to the final solution

Interviewer will be providing directions else make assumptions

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HOW MANY PING PONG BALLS FIT IN A BOEING 747?


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Working towards the solution

What is your structure?

The easy part: - Volume of ping pong ball= 4/3**R^3= 3 inch3

The tough part: - Future Consultants i.e.YOU to take up the mantle

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The funnel approach

Volume ofping pong ball

Volume ofBoeing 747

Ans= Volume1/ Volume 2


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Our Solution

Person equivalent= 6 feet height * 1 foot wide * 1 foot deep = 10368 inch3

Spaces in a Boeing 747

Seats =400

Galleys = 3

Lavatories = 14

Aisles = 3

Total person equivalents

Seats = 400 person equivalents

Galleys = 6*3 person equivalents

Lavatories = 14*2 person equivalents

Aisles = 40*3 person equivalents

Total = approx 600 person equivalents

Number of balls = 600*10368/ 3= 2,073,600 Are we there yet?

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Unfortunately No

Cargo and extra space (belly holds, overhead compartment, leg room and space above the passengers heads)

If figures are known can be calculated else take assumptions

E.g. 4 times packing space as the volume of persons

Total = 600 + 2400 = 3000 person equivalents

Volume of a Boeing 747 = 3000*10368= 31,104,000 in3

Number of balls that can be held= 10,368,000 balls

Are we there yet?

The Extra Step.. The piece de resistance PACKING DENSITY!

The final figure =70% * 10,368,000= 7,257,600 balls

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Do you want more?

2 approaches

The Start Big approach

The Start Small approach

Start from a small town

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HOW MANY GALLONS OF WHITE HOUSE PAINT ARE SOLD IN THE U.S. EVERY YEAR?

Number ofpeople in US

Number ofresidential

houses

Add shops,offices etc.

Frequency ofpainting

Area of 1 housePaint used


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Thank You

Surbhi Bhatia

[email protected]

Akash Deep

[email protected]

Robin Bishwajeet

[email protected]

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