OK -courtesy of Wikipedia here goes one answer
1.There are approximately 5,000,000 people living in Chicago.
2.On average, there are two persons in each household in Chicago.
3.Roughly one household in twenty has a piano that is tuned regularly.
4.Pianos that are tuned regularly are tuned on average about once per year.
5.It takes a piano tuner about two hours to tune a piano, including travel time.
6.Each piano tuner works eight hours in a day, five days in a week, and 50 weeks in a year.
From these assumptions we can compute that the number of piano tunings in a single year in Chicago is
(5,000,000 persons in Chicago) / (2 persons/household) × (1 piano/20 households) × (1 piano tuning per piano per year) = 125,000 piano tunings per year in Chicago.
We can similarly calculate that the average piano tuner performs
(50 weeks/year)×(5 days/week)×(8 hours/day)/(1 piano tuning per 2 hours per piano tuner) = 1000 piano tunings per year per piano tuner.
Dividing gives
(125,000 piano tuning per year in Chicago) / (1000 piano tunings per year per piano tuner) = 125 piano tuners in Chicago.
About Me
- Dr. Chris L. Marshall
- Dr. Chris Marshall is a Director at SunGard Asia Pacific, responsible for their Risk Management, Regulatory Compliance, Financial Modeling, Economic Capital, and Performance Management Services for Financial Institutions in Asia Pacific. His two decades of experience in IT, Finance, and Risk Management has earned him widespread respect in Asia as a leading industry speaker and commentator. He is an Affiliate Prof. at EDHEC Risk, a leading risk management thinktank, and is a member of the Global Who’s Who for Risk Management. Prior to his current role, he was a Senior Director at Oracle, where he ran their risk application services in Asia. For four years he was an Exec. Director at UBS, where he headed the bank’s corporate risk advisory. For 4 years he was a Senior FSI Consultant at Ernst & Young, where he wrote a well-regarded text on Operational Risk Management. He was a founder of the Singapore NUS Center for Financial Engineering. He started his career as a Quant at O’Connor & Associates, a leading prop. trader in Chicago. He has a DBA in IT & Finance at Harvard, an MBA from the University of Chicago, and an MA & BA in Physics from Cambridge.
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