How many barbers a big city supports
Question
Estimate the number of barbers working in a large city.
Short answer
For a city of about 8 million, roughly 10,000 to 15,000. About million males; say use a barber, about every weeks, giving roughly million cuts a year. A barber doing about cuts a day for days handles about a year, so about barbers, more if many work part-time. Show the chain of assumptions and which ones drive the answer.
Adapted from Crack, Heard on the Street, Q5.5.20, p.55; question and answer rewritten by SelfMadeQuant.com.
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