Session #2 - Guesstimates

For more Guesstimate cases, get the CIC book: bit.ly/Caseinterviewscracked
In this session we cover the following topics
1. What are guesstimates
2. Steps to solve them
3. Why consulting companies use guesstimates
4. Practice problem

[@asheshvaibhav]

I spent an hour convincing myself on how it was Rs. 40,000 and not Rs. 1,00,000. 40 minutes into this video and I am told i was right. Thank You.

[@rishabhsingh-qo9gy]

SAME HERE BHAI

[@prachisomani4507]

Thank god I read your comment! Was stuck at this same point!

[@asheshvaibhav]

Glad to see others benefiting from my misery XD

[@rachitamahajan9323]

You're not alone.

[@asheshvaibhav]

This comment is serving the general public now. Where is my award for making the world a better place :P

[@divyamsaxena295]

You guys did a great job. I am ignoring the errors in the calculation part. I think that make sense.

[@rashmipadmawar448]

Thanks for the help guys! Amazing work! Keep it up

[@AchieveMax]

Both of you have done a great job.... May god bless you....

[@secretsoul9319]

Great lecture for Guessimates. Gained a lot of Interest in Guessimates through this Video.

[@rishi2ias]

58:00 is gold. We'll have to edit this part🙃

[@arnabpersonal6729]

they forgot to edit anyway

[@rishi2ias]

@@ishandas3933 Yup I believe so. The problem seems to be supply constrained to me since there is a limit to the number of people that can be accommodated in the restaurant, i.e. the seating capacity.

[@jainamshah2586]

I loved the work ...i.have interview after 2 day and I am practicing guesstimates ...thankyou guys

[@dahliaribeiro1084]

Thank you so much this really helped me

[@uncommonphrase9729]

Great presentation and delivery guys! Originality, flow are well appreciated. The unedited parts were most enjoyable. 😁

[@rachitbansal1555]

Very helpful, thank you!

[@aayushgupta9446]

In the practice guesstimate given, can we ask a preliminary question like of which month are we calculating the monthly revenue?

[@srijitsikdar844]

Another Mistake.He said 14 million Credit cards for Upper househole,whereas it is 12M. 20% of 10M has 2 credit cards(so its 4M) + 80% household have 1 credit card so its(8M)..so its 12 not 14.

[@SwatiGuptabprofessional]

Any one solved the last question they asked about "what is monthly revenue of your fav. resturants say Laxmi?" kindly share your approach.

[@rajpalsingh-le1tf]

Nice explanation of guesstimates

[@kolipakulauday7529]

here we get 2k as cashback when 1lakh is consumed but taken as 4ok may be calculation mistake

[@amankhandelwal8341]

Wouldn't it be easier to start with the number of tax payers in the country. Non tax payers can't possibly get a credit card.

[@arnabpersonal6729]

yes there can be multiple approaches but whatever strikes u at that time can be explained

[@rashmi6222]

I didn't get sanity check

[@suyogpatil123]

Very good!

[@nupur4849]

mayuresh really makes it a fun way to learn

[@coolsidshan4u]

Calculation mistake: 2000 is 2% of 100,000, NOT of 40,000

[@nandgate69]

he had way too many calculation mistakes. but the interviewer is probably checking his approach , not his mathematical skills.

[@chiraggera3160]

that is exactly what I just thought of.. It's a huge calculation mistake as that makes the monthly spending to be around 10k instead of 3k taken in the video.

[@bhupendrakumar2520]

both are from IIT Bombay, did not expect this, but it happens.

[@bigmoist2112]

theyve literally acknowledged this in their video, chill out

[@ruchirmundhra6716]

@@bhupendrakumar2520 man they are humans after all can make mistakes

[@shibanshujha]

Bro you are funny 😅 nice informative video .

[@yavnaaldhaaka]

Have you used prezi for making your slides?

[@shivkumarjha2224]

Yup, it's cool for presentations. But when it comes to professionalism, nothing beats PowerPoint!

[@14101989abhi]

Sanity check my friend Rs 40,000 equals to Rs 800 and not 2 % of annual spend. Plus I believe you missed a key prelim question, I don’t think you get 2% on all the purchase you make. Hence behavioural spend goes missing. Also, as a candidate I would have asked typically how much interest do I pay on spend. Because that will affect some if not all.

[@adityapattanayakvlogs]

The vdo is half of the whole class ; it would have been great if the whole class would have been there in this vdo !

[@mohitverma6105]

While calculating the no, of credit cards in india. Can we apply a literacy rate filter after filtering by urban and rural?

[@PinkFloydTheDarkSide]

There is no harm in drilling down more as long as you can reach some sensible numbers and are rational but don't get lost in just drilling down and not reaching a conclusion. Being balanced is the key.

[@samanthasaint4421]

Where is the complete video?

[@sangramdattaaeepatrapur8439]

Was the session held at an IIT, considering the hosts are IIT-B alumnae ?

[@chaitanyatate3611]

yep it is held at IITB

[@gaurisuralkar3668]

10:40 Case Interview Cracked book Cheat Sheet how can one access it?!

[@debajyotibiswas4276]

Also this might be a trivial point but assuming that 100% of UC population use credit cards is not right. In simple terms UC means rich people so some of them have enough financial ability 5to buy things upfront with cash,debit card,net banking etc. So i guess for 1 credit card,2 credit cards & no credit cards the assumption can be 60%,20% & 20%.

[@advancedautocaddynamicbloc7359]

i came to know what politicians do atleast in india if not globaly

[@ishitavyas6115]

How did he find credit cards per households?

[@siddharthjoshi6811]

Total no. of Cards Estimated/ No. of houses assumed

[@GrowwithAyansh]

Which is this institute/college?

[@tuhinatanmay]

Not able to hear audience voice. The questions they are asking

[@shayanamjadali3191]

Can anyone answer this guesstimate for me: How much charas/hash is consumed in India in one day in kilos?

[@PrateekMunjal]

Which colg is this?

[@AdityaKumar-nf5ek]

IIT Bombay

[@vutukuripavankumar9080]

2% of 40k is not equal to 2000 then, how come customers recover their subscription money(2000)?

[@Tark_2607]

4:05

[@gaurisuralkar3668]

58:45 shit I sort of misguided them to believe in that is context specific xd

[@ritvikarya4796]

Can we add a filter of age ? Dividing 1.3B into 4 or 5 age groups and then further divide into urban and rural.......

[@vikaskumarsahu5755]

How will you round it off?? x rounds off to v?? LOL! :D

[@shivanshtiwari7109]

Hi bhai!

[@vikaskumarsahu5755]

@@shivanshtiwari7109 Are Bhai Bhai😂😂

[@rishabhgang]

39:32 47:20 :p

[@shiningtriumph]

*C L I F F H A N G E R* dun dun DUN!

[@conspiracytheorist4347]

why are these guys so hotttt (made me watch the full video, thanks)

[@adarshisinha3546]

The assumption that bpl and less income people don't use credit cards is not true...people like me take credit cards just to try it out see how it works... most bachelors with less income have credit cards..though they spend accordingly

[@teghmannbagga2633]

The preliminary questions I believe are dumb, the question clearly asks to estimate "Credit Cards" , how can we ask such a stupid question like just credit cards or debit cards also? Then, I feel everyone knows the difference b/w a credit card and a debit card, so that wont be an issue.

[@ratnamkalra3330]

Why is the Dentist an assumed 'he'?

[@Chaandaurchakor]

Lol

[@bhavyabansal484]

Locality of the restaurant ! Biggest point missed !

[@sagarmandhani]

Laxmi is right outside IITB so that's why no one asked I guess.

[@nomadrohit5050]

you might be good at guestimate but very poor in calculations.

[@yashbansod5246]

They mentioned in the video, the overall approach is considered for evaluation and not the final answer.

[@ritvikarya4796]

Poor in calc. Brother he published a book and got selected in BCG. They are here to teach you frameworks and not calculations.

[@prajjawalshrivastava7492]

While cross-checking 1.2 instead of 1.4 and 100000 instead of 40000 ... I was doubting my own calculation, I admire your work but please do not do that.