How many candies does china consume annually?

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New answer on May 16, 2021
3 Answers
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Anonymous A asked on May 14, 2021

What I will do is the following and I would appreciate your feedback on my approach or if you suggest another approach.

1- Start with the whole population

2-segment based on age (children, middle age, old people).

3- Assume all children eat a candy a day (is it underestimated?) , then multiply by number of days in a year.
4-Assume middle age only 30% would eat candy and they only eat one candy per week, then multiply time number of weeks in a year.
5- Assume old people won't eat candy.

6- Add number of candies eaten by children and middle aged to get total candy consumption.

please give your feedback on approach and feel free to suggest any other approach.

(edited)

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Ian
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replied on May 15, 2021
BCG | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi there,

Overall this is a good approach!

That said, I would question your assumption around the elderly not eating candy at all. I would also question your assumption that all children eat 1 candy a day.

So, I think you're good on overall structure and logical thinking, but you do need to work on your assumptions! My best advice for this is 1) Do daily reading to learn more about the world etc.) 2) Continue practicing and sense-checking assumptions

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Clara
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replied on May 16, 2021
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

I think candy daily is a bit aggresive ;)

However, that is not the main point, since the overall approach is good, and this is what counts. Good job!

Cheers,

Clara

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Antonello
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replied on May 15, 2021
McKinsey | MBA professor for consulting interviews

Hi, the solution is goos. In addition, I would like to suggest similar cases in the platform to practice with:

  • https://www.preplounge.com/en/consulting-forum/how-much-would-you-charge-to-clean-all-the-windows-in-seattle-4965
  • https://www.preplounge.com/en/consulting-forum/market-sizing-milk-consumption-5087
  • https://www.preplounge.com/en/consulting-forum/how-would-you-calculate-the-value-of-a-cow-4982
  • https://www.preplounge.com/en/consulting-forum/estimate-number-of-traffic-lights-in-a-london-5692

Hope it helps,
Antonello

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Ian gave the best answer

Ian

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