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He went on to develop a series of sample calculations, which are called "Fermi Questions" or "Back-of-the-Envelope Calculations" and used to solve Fermi problems. [ 3 ] [ 4 ] Fermi was known for getting quick and accurate answers to problems that would stump other people.
Graphs of probabilities of getting the best candidate (red circles) from n applications, and k/n (blue crosses) where k is the sample size. The secretary problem demonstrates a scenario involving optimal stopping theory [1] [2] that is studied extensively in the fields of applied probability, statistics, and decision theory.
Questions are generally ambiguous and require interviewees to ask questions or make assumptions to make a reasonable, supported argument to their solutions. Candidates are expected to demonstrate reasoning rather than to produce the exact answer. [3] A case interview can also be conducted as a group exercise.
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A Fermi problem (or Fermi question, Fermi quiz), also known as an order-of-magnitude problem, is an estimation problem in physics or engineering education, designed to teach dimensional analysis or approximation of extreme scientific calculations.
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