Fermi Problems Quantitative Analytics 2022

Fermi Problems Quantitative Analytics 1
FERMI PROBLEMS QUANTITATIVE ANALYTICS
By (Name)
The Name of the Class (Course)
Professor (Tutor)
The Name of the School (University)
The City and State where it is located
The Date

Fermi Problems Quantitative Analytics 2
Fermi Problems Quantitative Analytics
Introduction
Quantitative analytics are normally used in business for problem-solving and strategic planning
purposes. Quantitative analytics refer to the assessment of business data through mathematical
and statistical models, tables, and visual charts designed to communicate critical information
about the business. The questions in this assignment will be taken as Fermi problems. As such,
Fermi problems will center on the determination of whether given attributes in approximation
and estimation of complex mathematical questions are satisfied (Ärlebäck & Bergsten, 2010).
We will analysis the performance of each of the businesses to see which one is the most feasible
and profitable based on maximum gross revenue. There is a need to see whether it is a good idea
for the car wash owner to open a coffee shop. If the revenues exceed the cost substantially then
the coffee shop will generate profit margins that will make the pursuit of the business venture
worthwhile.
TASK 1
Assumptions
1. The hand wash bays and vacuum bays operate independently i.e. a person can get his/her
washed without getting it vacuumed.
2. All bays have two employees each
3. There is no waiting time between one car and the next
Part I

Fermi Problems Quantitative Analytics 3
Calculations for the Four Hand wash bay
Hand Wash Bay 1 Bay 2 Bay 3 Bay 4
Hours Worked 48 48 48 48
Employees 2 2 2 2
Price Per Wash $40 $40 $40 $40
Each hand wash bay will attend to cars for 48 hours
If one car takes 20 minutes to wash
How many cars will be washed in 48 hours?
48∗60
20 =144 cars
One hand wash bay will cater to 144 cars
Four hand wash bay will cater to 144 multiplied by 4 = 576 cars
144
144144
144
Cars Washed
Bay 1 Bay 2 Bay 3 Bay 4

Fermi Problems Quantitative Analytics 4
If one car is hand washed for $40
How much will it get for hand washing 576 cars?
576∗40=$ 23,040
Calculations for the two vacuum bays
Hand Wash Bay 1 Bay 2
Hours Worked 48 48
Employees 2 2
Price Per Wash $10 $10
Each vacuum bay will attend to cars for 48 hours
If one car takes 10 minutes to vacuum
How many cars will be vacuumed in 48 hours?
48∗60
10 =288 cars
One vacuum bay will cater to 288 cars
Two vacuum bays will cater to 288 multiplied by 2 = 576 cars