Guesstimate Interview Questions
- If I were to calculate, it should be equal to Total Revenue Per Room/Total rooms occupied
- Banners on websites
- Video ads on youtube
- Pamphlet distribution
- Hoarding
- Email/SMS
- Video ads on youtube
- Pamphlet distribution
- Hoarding
- Email/SMS
- The ALOS metrics make it easy to identify the length of stay of guests at your hotel. This is calculated by dividing the occupied rooms by a number of bookings. It is said that a higher number means an improved profit as less labor is required. On the other hand, lower ALOS results in reduced profit. The concept is that if a guest stays for a long period of time then it requires less labor. Whereas if several guests book rooms for one-nights for the same period of time then it requires more labor.
- To stay ahead of the competition you need to know how your hotel is performing in the local market. The MPI metrics can be used as a tool to compare your hotel’s market share with your competitors. It helps you to know how many guests are choosing your hotel as compared to other hotels in your location. It can be calculated by dividing your hotel’s occupancy by market occupancy and multiplying by 100. If the result is more than 100 that means you have a very good hold on the market. Else if it is less than 100 then it indicates your hotel isn’t performing well and losing a lot of bookings to your competitors.
The approach to such problems follows a MECE approach. MECE expands to Mutually Exclusive Collectively Exhaustive, which trivially means breaking your problem down to Non-overlapping segments which add up together to give your final solution.
Let's solve the guesstimate
The population of Delhi: 20 Mn
Children or college going = 20% of 20 Mn -> 4 Mn
Senior citizens = 20% of 20 Mn -> 4 Mn
Working people = 60% of 20 Mn -> 12 Mn
let there are 5 brands of car and each brand has 10 cars that are equally distributed. So in total, we have 50 models of cars running in the streets. This does not include luxury cars.br> Working-class people, let's assume half are married and half remain unmarried. So married -> 6 Mn and unmarried -> 6 Mn
Married couples:-
Number of married couples = 6 Mn/2 -> 3 Mn
I am assuming 10% belong to the rich class and prefer luxury cars and 20% cannot afford a car. The rest 70% has one car each.
70% of 3 Mn = 2.1 Mn
There is an equal distribution of above mentioned 50 cars among these 2.1 couples again. So the number of Swift Cars right now is 2.1 Mn / 50 = 0.042 Mn. I am assuming Swift car comes in 10 colors. Hence a number of red swift cars in married couples is 0.0042 Mn -> 42,000
Unmarried couples:-
Out of 6 Mn unmarried couples, Only 10% can afford mid-range nonluxury cars. Hence no of cars = 6 lakh. These are again divided into 50 models as above and each model has 10 colors. So number of red-colored swift cars among unmarried unmarried people = 6 lakh / 500 -> 12,000
Senior citizens
Out of 2 Mn families(4 Mn people), 20% i.e. 0.4 Mn families own a car. Again, as above, these cars are divided into 50 models with each model having 10 colors. So 4 lakh/500 -> 8,000
Total number of red-colored swift cars in Delhi = 42,000 + 12,000 + 8,000 -> 62,000
Let's solve the guesstimate
The population of Delhi: 20 Mn
Children or college going = 20% of 20 Mn -> 4 Mn
Senior citizens = 20% of 20 Mn -> 4 Mn
Working people = 60% of 20 Mn -> 12 Mn
let there are 5 brands of car and each brand has 10 cars that are equally distributed. So in total, we have 50 models of cars running in the streets. This does not include luxury cars.br> Working-class people, let's assume half are married and half remain unmarried. So married -> 6 Mn and unmarried -> 6 Mn
Married couples:-
Number of married couples = 6 Mn/2 -> 3 Mn
I am assuming 10% belong to the rich class and prefer luxury cars and 20% cannot afford a car. The rest 70% has one car each.
70% of 3 Mn = 2.1 Mn
There is an equal distribution of above mentioned 50 cars among these 2.1 couples again. So the number of Swift Cars right now is 2.1 Mn / 50 = 0.042 Mn. I am assuming Swift car comes in 10 colors. Hence a number of red swift cars in married couples is 0.0042 Mn -> 42,000
Unmarried couples:-
Out of 6 Mn unmarried couples, Only 10% can afford mid-range nonluxury cars. Hence no of cars = 6 lakh. These are again divided into 50 models as above and each model has 10 colors. So number of red-colored swift cars among unmarried unmarried people = 6 lakh / 500 -> 12,000
Senior citizens
Out of 2 Mn families(4 Mn people), 20% i.e. 0.4 Mn families own a car. Again, as above, these cars are divided into 50 models with each model having 10 colors. So 4 lakh/500 -> 8,000
Total number of red-colored swift cars in Delhi = 42,000 + 12,000 + 8,000 -> 62,000
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