Whats does estimate mean?
1a : a rough or approximate calculation. b : a numerical value obtained from a statistical sample and assigned to a population parameter. 2 : a statement of the cost of work to be done. 3 : an opinion or judgment of the nature, character, or quality of a person or thing had a high estimate of his abilities.
What does estimate mean Example?
The definition of an estimate is an opinion or a guess of the size, worth or cost of something. An example of an estimate is a list of times and charges that it may cost to complete a construction job.
What is the synonym of the word estimated?
Some common synonyms of estimate are appraise, assess, evaluate, rate, and value. While all these words mean “to judge something with respect to its worth or significance,” estimate implies a judgment, considered or casual, that precedes or takes the place of actual measuring or counting or testing out.
How do you use estimate in a sentence?
judge to be probable.
- The committee lacked a correct estimate of his ability.
- My estimate of his abilities was wrong.
- Her estimate was right on the nose.
- We estimate the cost to be four thousand dollars.
- I estimate his age at thirty – five.
- Their estimate is in the right ball park.
What are estimates used for?
Estimates are documents that provide approximate costs for a project. Small businesses create them for potential clients so both parties are clear on the ins and outs of a project before it starts. FreshBooks has an estimates feature that help you build an estimate quickly and easily.
What is Estimated value?
Estimated Value means an estimate of the contractual value of a commodity based on current market information; Sample 1Sample 2Sample 3.
What is the opposite of estimated?
Opposite of an approximate calculation or judgment of the value, number, quantity, or extent of something. exact amount. exact number. exact value. precise amount.
What’s the difference between guessing and estimating?
In summary, a guess is a casual, perhaps spontaneous conclusion, whereas an estimate is based on some thought and/or data.
How do you do an estimate?
5-Step Process to Creating Estimates
- Evaluate the Job. Take some time to think about the job to be done.
- Provide a High-Level Overview.
- Present Alternative Estimates for Different Scenarios.
- Include Necessary Disclaimers.
- Convert Your Estimate to an Invoice.
What are types of estimate?
In this article, we’ll cover the following types of estimates:
- Preliminary Estimate.
- Detailed Estimate.
- Quantity Estimate.
- Bid Estimate.
What is an estimated number?
Estimation of numbers is the process of estimating/approximating or rounding off the numbers in which the value is used for some other purpose in order to avoid the complicated calculations. There is a difference between the term exact and the estimation.
How do you write estimate?
What to include in a job estimate
- Company contact info.
- A project description/overview of the services you’ll provide.
- The related cost of materials required to deliver the services.
- What will not be included in the project.
- Project timelines and completion dates.
- Total cost of services.
- Payment terms.
How do we estimate the value of anything?
The general rule for estimating is to look at the digit to the right of the digit you want to estimate. Estimating or rounding to the nearest whole number means looking at the digit to the right of the decimal. If you see a digit greater than 5, round up, and if it’s less than 5, round down.
What is another word for cost estimate?
What is another word for estimated cost?
What is it called when you can foresee the future?
A soothsayer is someone who can foretell the future.
What’s a word for telling the future?
Some common synonyms of foretell are forecast, predict, prognosticate, and prophesy. While all these words mean “to tell beforehand,” foretell applies to the telling of the coming of a future event by any procedure or any source of information.
What is detailed estimate?
A detailed estimate is drawn up when there’s more information available or the scope of the project is better known. Detailed estimates include incredibly detailed information on quantities, costs and rates—in fact, all items necessary to complete the project.
What is a antonym for estimate?
Antonyms. mistrust debit credit exact distant thinness overestimate. guess underestimation overreckoning scalage underestimate.
What is the difference of estimate and guesstimate?
Guesstimate is an informal English portmanteau of guess and estimate, first used by American statisticians in 1934 or 1935. It is defined as an estimate made without using adequate or complete information, or, more strongly, as an estimate arrived at by guesswork or conjecture.
What does estimated mean?
a valuing or rating by the mind, without actually measuring, weighing, or the like; rough or approximate calculation; as, an estimate of the cost of a building, or of the quantity of water in a pond 1.
What does the word estimate mean?
To estimate means to find something close to the correct answer. In other words, you are approximating. For example, the American statistic for the ideal number of children is 2.5. Now, obviously, nobody can have half a kid. We can estimate this exact statistic to either 2 or 3 children.
What can be estimated?
Abstract. Several lines of evidence support the link between maternal inflammation during pregnancy and increased likelihood of neurodevelopmental and psychiatric disorders in offspring.
What does estimate mean in math?
Estimation of a number is a reasonable guess of the actual value to make calculations easier and realistic. Estimation means approximating a quantity to the required accuracy. This is obtained by rounding off the numbers involved in the calculation and getting a quick and rough answer. How do you explain estimation?