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Anonymous A
on Dec 30, 2019
Global
Question about

Different Approach

Would it have been wrong to take a different approach with calculating the revenues?

The approach I took was, I tried to calculate the total daily revenue through calculating the revenues from the night and day shift separately. 

Firstly, 

no. passengers per day = (airport passengers) * (percentage of passengers using taxi)/ (days in a year)

=  84M*20%/350

= 48,000 passengers

That means, 

daytime shift = (total taxis used in day) * dayfare 

= (no. of passengers per day * % of day passengers)/passengers/taxi * dayfare

assuming on average a taxi is shared between 2 passengers

= (48,000* 50%)/2 * 70

= 840,000

Night shift = (total taxis used at night) * dayfare 

= (no. of passengers per day * % of night passengers)/passengers/taxi * dayfare

assuming on average a taxi is shared between 2 passengers

= (48,000* 50%)/2 * 80

= 960,000

Total Daily Revenues = 840,000+960,000 =1.8M

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Top answer
on Dec 31, 2019
McKinsey | NASA | top 10 FT MBA professor for consulting interviews | 6+ years of coaching

Hi, 
I confirm it is correct and maybe more intuitive. However, the proposed one is preferable in terms of speed.

Best,
Antonello

Clara
Coach
on Dec 31, 2019
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Altough it works, simplicity is also something to be valued (in terms of shortest time to calculations, less options to fall in pitfalls, etc.) 

Hence, unless you don´t understand the other one, I would go with it. 

Hope it helps! Cheers, 

Clara

Luca
Coach
on Dec 31, 2019
BCG |NASA | SDA Bocconi & Cattolica partner | GMAT expert 780/800 score | 200+ students coached

Hello,

Your approach sounds fine but I think it's more complex than the one proposed in the solution, I would keep the solution proposed.

Best,
Luca

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