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This approach to solving a Fermi question is known as a Fermi decomposition or Fermi solution. This method helped to estimate the uncertain quantity but also gave the estimator a basis for seeing where uncertainty about the quantity came from. Was the big uncertainty about the share of households that had tuned pianos, how often a piano needed to be tuned, how many pianos a tuner can tune in a day, or something else? The biggest source of uncertainty would point toward a measurement that would reduce the uncertainty the most.
How to Measure Anything: Finding the Value of Intangibles in Business
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