Answer required - need your help

MBB
New answer on Sep 28, 2022
2 Answers
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Anonymous A asked on Sep 25, 2022

Hello everyone, 

Recently, I have given the test for one of the companies and got all answers to all the questions except one which I have mentioned below. Would you guys be kind to answer that one question so that I can know if I am right or wrong? Thank you very much for your time.

My answer is 2.1 but not sure. 

-1664089860-q9swxykhlfp1.png

(edited)

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Bryan
Expert
replied on Sep 25, 2022
Ex-Bain Manager | Final Round Interviewer & Recommender for Bain | Summer Program Lead

Total number of cars per household should be 2.7. 

Here's the way i'd calculate: 

-1664123220-9pfd8egk55j2.png

Given you've cleared most of the test, i believe there shouldnt be any issues going on to the case interview. Good luck with that!

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Pedro
Expert
replied on Sep 28, 2022
Bain | EY-Parthenon | Roland Berger | FIT | Market Sizing | Former Head Recruiter

This one is very tricky, but mathematically is easy.
 

  • Average spend per family seems to be $950.
  • Average policy is $350.
  • So $950/$350 = 2.7

The rest of the information is irrelevant:

  • Number of families. irrelevant.  You don't have the total cost in the country. You already have the average cost per family, so you don't need this.
  • Families with cover: irrelevant. The policies are per car, not per family. Meaning that a family having 0 cars and another one 4 is the same as two families with 2 cars (although in the first case the “families with cover” ratio would be of 50%)…

Of course, let me say I don't see the point in this type of tricky tests.

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Bryan gave the best answer

Bryan

Ex-Bain Manager | Final Round Interviewer & Recommender for Bain | Summer Program Lead
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