Validating Assumptions for market sizing

Question

If you’re trying to calculate number of school buses and you’re not sure if school busses are used by people up to 4- 12 years of age or even up to 17 years of age..is it fine to ask the interviewer? Can we validate all the assumptions we make and ask if they sound reasonable? Or are you expected to run the numbers without any validation from the interviewer

Answer 1

Hi there,

Unfortunately no you cannot!

One of the main points of market sizing is to assess whether you can approach the problem and make reasonable assumptions on your own.

To help, what might be a way to figure out if school buses are used by those aged 4-12? Have you ever seen a school bus? Talked to someone with kids? What do you think happens?

Answer 2

Hello,

You shouldn't really be asking for data in market-sizing questions. But don't worry - the interviewers care more about your thought process than the accuracy of the assumptions you use. So do your best to make an educated guess about who would be using a school bus, and go from there.