Estimation Questions (Fermi): Break It Down, Bound It, Round It
This lesson is part of the course
In this lesson
You turn a classic estimation question into a chain of factors with low, base and high cases, find the midpoint on a log scale, round to a power of ten and size the revenue.
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Lessons in this course
- Expected Value of Games: a Die, a Reroll Option and a Card Draw Locked
- Conditional Probability Puzzles: Bayes Tables for Coins and Cards Locked
- Expected Stopping Times: the Geometric Distribution and Two Wins in a Row Locked
- Variance and Kelly Sizing: How Much to Bet on an Edge Locked
- Fair Value of Option Payoffs on Dice and Coins: Calls, Puts and Parity Locked
- Market Making: Quoting a Spread, Tracking Inventory and Marking the P&L Locked
- Estimation Questions (Fermi): Break It Down, Bound It, Round It Locked
- Mental-Math Drills Checked by Formulas: Percentages, Compounding and a P&L Chart Locked