Description
Could you estimate the number of light bulbs that were sold in the UK last year?
1. Analytical Thinking : Ability to analyze the question and approach the problem with logical reasoning.
2. Market Understanding : Understanding of market size, penetration rates, and consumer behavior related to the product in question.
3. Estimation : Capability to make educated guesses based on available data and logical deductions.
4. Numerical Skills : Comfort with numbers and calculations to provide a quantitative answer.
1. Assess Problem Solving : Gauge your ability to tackle unfamiliar problems and think critically.
2. Evaluate Market Insight : Determine your awareness and knowledge of the market for a specific product.
3. Check Estimation Techniques : Understand your approach to estimation and your ability to justify assumptions.
4. Measure Analytical Ability : Examine your skill in making data-driven decisions and performing calculations.
1. Consider market factors : Think about variables such as population size, average household bulbs, and bulb replacement rates.
2. Use logical structuring : Break down the problem into smaller, manageable components to simplify estimation.
3. Refer to benchmarks : Use any known benchmarks or industry averages as a starting point for your calculation.