Guesstimation: Solving the World's Problems on the Back of a Cocktail Napkin

Guesstimation: Solving the World's Problems on the Back of a Cocktail Napkin
by Lawrence Weinstein, John A. Adam

Guesstimation: Solving the World's Problems on the Back of a Cocktail Napkin
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Book Summary Information

Author: John A. Adam, Lawrence Weinstein
Edition: Paperback
Published: 2008-04-01
ISBN: 0691129495
Number of pages: 320
Publisher: Princeton University Press

Book Reviews of Guesstimation: Solving the World's Problems on the Back of a Cocktail Napkin

Book Review: Ok, but I know a better book for this
Summary: 3 Stars

This book was entertaining reading...except that most of the more interesting examples described in this book were so familiar. This is one of those books where I might rate it better if it weren't for the fact that there is a far better book for anyone interested in this topic. Like Guesstimation, How to Measure Anything: Finding the Value of "Intangibles" in Business by Douglas Hubbard also discusses the Fermi approach and how ancient Greeks estimated the circumfrance of the Earth (Hubbard's book uses these same examples even though it came out almost a year before Guesstimation...curious). But Hubbard picks up where Guestimation, as another reviewer puts it, "falls short". After a bit of "Fermi decomposition", Hubbard discusses how we can learn to excel at subjectively assessing odds and ranges and how we can compute the value of further measurement. Then he gets into a fascinating array of practical methods of observation to further reduce uncertainty. Although the techniques in Hubbard's book are based on sophisticated mathematical methods, he is able to reach a much broader audience by distilling the math into simple charts, tables and procedures. In short, if you owned both of these books, Guesstimation would be redundant and wouldn't cover nearly as much.

Summary of Guesstimation: Solving the World's Problems on the Back of a Cocktail Napkin

Guesstimation is a book that unlocks the power of approximation--it's popular mathematics rounded to the nearest power of ten! The ability to estimate is an important skill in daily life. More and more leading businesses today use estimation questions in interviews to test applicants' abilities to think on their feet. Guesstimation enables anyone with basic math and science skills to estimate virtually anything--quickly--using plausible assumptions and elementary arithmetic.

Lawrence Weinstein and John Adam present an eclectic array of estimation problems that range from devilishly simple to quite sophisticated and from serious real-world concerns to downright silly ones. How long would it take a running faucet to fill the inverted dome of the Capitol? What is the total length of all the pickles consumed in the US in one year? What are the relative merits of internal-combustion and electric cars, of coal and nuclear energy? The problems are marvelously diverse, yet the skills to solve them are the same. The authors show how easy it is to derive useful ballpark estimates by breaking complex problems into simpler, more manageable ones--and how there can be many paths to the right answer. The book is written in a question-and-answer format with lots of hints along the way. It includes a handy appendix summarizing the few formulas and basic science concepts needed, and its small size and French-fold design make it conveniently portable. Illustrated with humorous pen-and-ink sketches, Guesstimation will delight popular-math enthusiasts and is ideal for the classroom.

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