accounting analyst interview questions shared by candidates
How would you know how many people are wearing red colour shirt in the city?
Go to a garments shop . Check for the ratio in which red shirts are available and calculte the red colour shirt percentag multiplied by the urban population ..
Go to a random corner and get a sample size of about 25 people and note their shirt color. Do it around 10 times to get enough random sampling without bias. Now take this distribution and calculate the population (city) mean and standard deviation. You can guess with 90 to 99% confidence how many people are wearing red shirts.
Best answer would also probably talk about the required sample size, based on how quick/accurate an answer you need for this particular business analysis. For a population of 620,000 (Seattle), the math works out to: Confidence level | Sample size 90% +/- 10% | 68 95% +/- 5% | 384 99% +/- 1% | 16,206 More info at http://ncalculators.com/statistics/sample-size-calculator.htm