Estimation
ˌɛstɪˈmeɪʃən
Definitions
The act of assessing or calculating the approximate value, amount, size, or cost of something.
ˌɛstɪˈmeɪʃən
A judgment or approximate calculation of the value, amount, size, or cost of something.
The engineer provided an estimation of the construction costs.
💡 Simply: Estimation is like guessing how much something costs, how long it will take, or how far away it is. It's a smart guess when you don't have exact numbers.
👶 For kids: Estimation is when you make a good guess about how much or how many of something there are. It's like a smart guess!
More Examples
Based on the data, the scientists made an estimation of the population size.
The insurance company will require an estimation before covering any damage.
How It's Used
"The project manager provided an estimation of the total costs."
"Statistical estimation is used to infer properties of a population based on a sample."
"He made an estimation of the distance to the next town."
From Old French *estimacion* (14th c.), from Latin *aestimatio* ('valuation, assessment'), from *aestimare* ('to value, appraise').
The word has been used in legal and financial contexts since the 14th century.
Memory tip
Think of a scale; an estimation is like weighing something in your mind.