Top Guesstimate Questions to Nail Your Next Interview

Companies seeking data scientists want someone who can make good predictions because the job sometimes requires it. As a result, throughout the interview process, potential data scientists must demonstrate that they can make a good guess, estimate, or when those two terms are combined, a guesstimate.
 
What Is a Guesstimate?
Tips for Data Science Guesstimate Questions
Guesstimate Questions and Answers

 

1. What Is a Guesstimate?-

"Guestimate" is a combination of the words "guess" and "estimate." Guesstimates are estimates based on the scant information provided. An estimate is a guess based on information rather than an exact answer.

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The following are the five features of guesstimates:
Understanding the problem, determining its purpose, and determining why you wish to solve it
Definition: The explanation, the thing in question, and the process flow's input/output.
Guessing is the process of thinking and coming to a conclusion.
Estimation: Creating an estimate based on the numbers you'll be working with.
Create a concept: Taking the concept and putting it into practice through research and development.
 
 
 

2. Tips for Data Science Guesstimate Questions-

Remember that there is no such thing as a proper answer, so don't get too worked up over trying to find one.
Write everything down: Write down every component of the question, and if it has to be segmented, make a flowchart to show each segment. If the interviewer asks to see your calculation sheet, make sure it is legible and free of rough computations.
Don't worry about fractions or decimals; simply round your figures to the nearest whole integer.
 
Facts take precedence over emotions. Don't rely on your gut instincts. Logic and facts (even if you only have a few) have more weight than your feelings and beliefs.
Keep your cool: You might get a strange inquiry, but don't let it bother you. Every question, no matter how bizarre, has an answer.
 
Take a time to consider this: there are no points for speed. Take a moment to think about the question; quiet your mind and reason things out.
 
Clarify your thoughts before expressing them: After you've considered all of the possibilities and used all of the facts at your disposal, come up with a solution in your thoughts and then explain it.
 
Remember, there is no such thing as a wrong answer: This is an important concept that ought to be repeated. There are no right or wrong responses! If you wait until you have the perfect answer before answering, you'll be dead in the water, and the interviewer won't care.
 

3. Guesstimate Questions and Answers-

1. What is the definition of a guesstimate?

A guesstimate is an approximation based on known data; it is a guess based on existing knowledge.
 

2. What is the best way to answer an estimate question?

You can split down an estimate question into four steps to solve it:
To begin, define any terms in the query that are ambiguous.
Second, split huge numbers down into smaller, more manageable chunks.
Third, estimate each element based on your prior experience.
Finally, bring everything together and show your findings.
 

3. Give some examples of questions that require guesstimation.

Here are a few examples of common estimate questions:
How many Android phones are now in use in Delhi?
In a day, how many square inches of pizza do Americans consume?
On any given day, how much tea does the average person in the United Kingdom consume?
How many golf balls can a MINI Cooper hold?
 

4. What is the purpose of guessing questions in Data Science?

For starters, they aid in determining a data analyst's ability to comprehend the problem.
Second, they demonstrate the breadth of a data analyst's ability to connect dots and arrive at a conclusion.
Third, they assess the analyst's ability to prioritize and dismiss certain parameters.
Finally, they demonstrate the analyst's ability to collaborate with others.
 

5. What are the two approaches to dealing with estimate questions?

The top-down approach is used. Begin with the largest universe possible (of which the guesstimate is a part), then use a series of constraints and filters to reduce the universe's numbers to a size that is suitable for the estimate.
The method from the bottom up. Begin with a basic statistic and work your way up to a conclusion. For example, if you wanted to calculate a salesperson's monthly profits, you'd multiply their weekly earnings by 4 and multiply the result.
 

6. Describe the three various guesstimates you came up with based on how you approached a problem.

The three types are as follows:
The Household Approach: This method is used to deal with guesstimates that are based on a household.
The Population Approach: This method is used to answer population-related estimation questions, such as how many people live in a given area.
The Structural Approach: This method generates estimates for scenarios such as determining how many vehicles utilize a specific bridge on a daily basis.
 

  Thirty percent of the remaining people drink tea every day, twenty percent occasionally, and ten percent never drink tea. Let's suppose daily tea drinkers have three cups each day, whereas infrequent tea drinkers have two cups per week.