This is one of three accessories in a alternation that discusses algebraic abilities in Management Consulting Case Interviews, and how you can finer adapt for the quantitative basic of Case Interviews.
If you appetite to assignment in Management Consulting you should apprehend this series. If you apperceive somebody who wants to assignment in Management Consulting, you should allotment this alternation with them.
First article: Algebraic Abilities Adapted in Case InterviewsThird article: Why Management Consulting Firms Assess Algebraic Abilities in Case Interviews.
The best way to adapt for the quantitative allocation of Case Interviews is to convenance the types of calculations you will charge to accomplish with the types of numbers you are acceptable to appointment in Case Interviews and to be accustomed with the types of problems you are best acceptable to appointment and how to break them. Furthermore, candidates charge accept how to assay and adapt the quantitative after-effects in adjustment to accomplish actionable recommendations in the Case.
As a reminder, calculators and spreadsheets are not acceptable in Case Interviews, but candidates may use pen and paper. All the calculations adapted in Case Interviews (Case Calculations) booty this into account, and the specific numbers complex Case Interviews (what I will alarm “Case Numbers) generally accept specific backdrop you can use to abridge the calculations — if you apperceive the able method!
For example, Case Numbers are usually Round numbers with alone a a few cogent digits, such as 300,000 or 4,500,000. While some bodies may be abashed by accepting to do calculations with ample numbers like this after a calculator, already you apprentice how to calmly administer the zeroes, calculations with numbers like these become straightforward.
When Case Numbers accept assorted cogent digits, they usually accept added backdrop that can accomplish assertive calculations like multiplication and assay abundant easier if you are acquainted of the adapted methods. For example, let’s say you are told a aggregation sells a Artefact for $32 per assemblage and sells 25,000 units per year, and you are asked to account the Revenue. You would again charge to do the calculation: ($32 × 25,000). Best bodies would use pen and cardboard for this calculation. You can accomplish the pen-and-paper abacus added able by not autograph out the three zeroes from “25,000” and again to add them to the end of the aftereffect of (32 × 25).
This archetype is adumbrative of a archetypal Case Calculations, and actuality is an able adjustment for this abacus (32 × 25). Aboriginal decompose 25 as: (25 = ¼ × 100). Again we accomplish the abacus application this atomization of 25.32 × ¼ = 32 ÷ 4 = 88 × 100 = 800
Therefore (32 × 25 = 800) — you can assay this with a calculator or pen-and-paper calculation. You abacus adjustment is akin to the afterward way of thinking: let’s say you are accustomed 32 abode (U.S. coins); how abundant money would you have? Best bodies would anticipate to themselves: “there are four abode in one dollar, and 32 ÷ 4 = 8, so I would accept $8,” which is correct! Now anticipate about how abounding cents would be in $8. The acknowledgment is acutely 800: (8 × 100 = 800), as there are 100 cents in 1 dollar. So 32 abode is $8, which is additionally 800 cents. Now, back analysis is additionally account 25 cents, and because we accept 32 quarters, again 32 × 25 charge additionally according 800. So to accumulate any cardinal by 25, you bisect the cardinal by 4, and again accumulate by 100. This adjustment works because (4 × 25 = 100); so, back you bisect 32 by 4, the aftereffect is the “number of groups of 100.” It follows the acknowledgment to our aboriginal botheration of ($32 × 25,000) is accordingly $800,000.
This adjustment relies on the actuality that 25 = ¼ × 100. These numbers are adumbrative of absolute Case Numbers, and best absolute multiplication calculations in Case Interviews absorb numbers like 25,000 or 25 Million, for which there exists a way to badly abridge the calculation.
Most added quantitative Case Account alertness assets I accept advised accept archetype calculations that you are acutely absurd to appointment in an absolute Case interview, such as abacus by a cardinal like 23,487, which has bristles cogent digits and no bright way to abridge the calculation. I accept that practicing with quantitative problems like this, that are not adumbrative of absolute Case Numbers or Case Calculations, is not an able way to prepare, as you won’t be practicing for what you will absolutely face in an interview, and you accordingly won’t be practicing abilities you can absolutely use in Case Interviews. Practicing with problems that absorb numbers with abounding cogent digits can absolutely be counterproductive, as you will focus on the brute-force automated calculations, and won’t convenance of anticipate about the analytic analytic aspects and developing recommendations from aftereffect of quantitative analysis, and you won’t get acquaintance attractive for and award able abacus methods. In short, you wont’ be training for the types of problems you will absolutely face in Case Interviews.
I created an online course, alleged FastMath Ace the Case, that provides a absolute set of accoutrement to adapt for the quantitative allocation of Case Interviews. This online advance uses video-based apprenticeship to advise fast and able brainy abacus methods for the best accepted types of Case Calculations (multiplication, division, percentages and admixture advance calculations). The methods in this advance are specialized for archetypal Case Numbers, and all the examples in this online advance are based on absolute Case Calculations. The video acquaint in this advance authenticate how to administer these able abacus methods to the best accepted types of quantitative Case Account problems, such as Market Sizing problems and Break-even Assay problems, and appearance how to break these types of problems best efficiently. This advance additionally has all-encompassing convenance problems that accommodate abundant band-aid methods that reinforce the advance material.
This commodity has examples of the abacus methods accomplished in the FastMath Ace the Case online advance and has able band-aid methods to the archetype problems from the antecedent article. You can apprentice added about and annals for FastMath Ace the Case online advance through the URL below, which applies a 25% abatement to $59.FastMath Ace the Case Advance URL
If you appetite a chargeless appraisal of your assistant skills, there is additionally a Quantitative Appraisal Quiz and Solutions to the quiz.
Because you cannot use calculators in Case Interviews — and because you may charge to accomplish a ample cardinal of algebraic operations — being able to do calculations mentally (without relying on pen and cardboard for the mechanics of calculations) is a actual accessible Case Interviews.
Consider an archetype agnate to the one in the antecedent article, area you are accustomed Price, Quantity and Profit Margin for three altered articles and asked to account the allotment of the firm’s all-embracing Revenue and Profit contributed by anniversary product. We’ll use altered after ethics accustomed in the table below:
Let’s say your access to answering this catechism is to aboriginal account the Revenue and Profit for anniversary Product. If you are able to do these operations mentally (and address bottomward the answers) after autograph out all the multiplication operations in longhand, you will accept a cogent advantage in abacus speed. Calligraphy multiplication refers to accomplishing a multiplication abacus like 7 × 25 as apparent below:
In adjustment to do calligraphy multiplication for a accurate calculation, you would aboriginal charge to archetype the multiplication agreement from the table assimilate pen and paper, and again assassinate anniversary calculation. Back several multiplication operations are adapted to account the Revenue and Profit for all the Products, a actuality application calligraphy multiplication will be abundant slower than a actuality who can do the calculations mentally. It is abundant faster and added able to artlessly do anniversary abacus mentally (without defective the aboriginal numbers out in calligraphy format) and again address bottomward the result. The acceleration advance of brainy calculations is abstract if you charge to accumulate several numbers calm back artful a value.
For example: Profit = (Price) × (Quantity) × (Profit Margin)
For brainy calculations, it is actual accessible to “mentally picture” the numbers with which you are calculating — which I may accredit to as “thinking” of a assertive cardinal or numbers. After accomplishing a abacus mentally, you should consistently address bottomward the aftereffect so you don’t balloon it.
Given the allowances of brainy calculations in Case Interviews, the FastMath Ace the Case online advance teaches a absolute set of brainy abacus methods accurately advised for Case Interviews. These methods are additionally accessible for pen-and-paper calculations for those not absolutely adequate accomplishing the calculations absolutely mentally.
Given that the Case Numbers accept few cogent digits — and generally accept abaft cogent digits of “5,” “25” or “75” — performing accession and addition with Case Numbers is almost aboveboard for best people. You may appetite to convenance abacus and abacus numbers if you are decayed or don’t feel assured in actuality able to do this calmly in an interview, which has added stress.
Example: Add the afterward numbers: 250 Million, 300 Million and 150 Million.
Read beneath for Methods for abacus ample numbers
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