Why is something an estimate?
An estimate is also a statement of the likely cost of building something or doing some other work.
to guess the size, cost, etc., of something: We estimated his wealth at $500 million..
How do you do an estimate?
Estimate sentence examplesThe realtor’s estimate of the value of the property pleased her. … Gerdien’s estimate of the convection current is for fine weather conditions. … By one estimate in 1820, 70 percent of Americans farmed. … It appears from the above estimate, that my food alone cost me in money about twenty-seven cents a week.More items…
How do you estimate a math problem?
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.
How do you write an estimate?
What do I include in an estimate?Job description. Explain the work you’ll be doing. … Materials and labor. Provide a high-level view of the necessary materials and labor and the costs for each. … Total cost. Clearly and correctly tally up the total costs of the project.This is a big one. … Sales and company contact info.
What is a high estimate?
High Estimate means an optimistic estimate of the quantity that will actually be recovered. It is unlikely that the actual remaining quantities recovered will exceed the high estimate.
What is an example of estimate?
To find a value that is close enough to the right answer, usually with some thought or calculation involved. Example: Alex estimated there were 10,000 sunflowers in the field by counting one row then multiplying by the number of rows.
What are two ways to estimate?
There are different methods for estimation that are useful for different types of problems. The three most useful methods are the rounding, front-end and clustering methods.
What is a calculated estimate called?
To approximate is to calculate the value of something based on informed knowledge. As a verb, approximate means “to estimate.” Unlike the word guess, approximate implies the use of a logical or mathematical method. …
Does estimate mean Guess?
An estimate is the resulting calculation or judgment. A related term is approximation, meaning close or near. In between a guess and an estimate is an educated guess, a more casual estimate. An idiomatic term for this type of middle-ground conclusion is ballpark figure.
What is mean by estimating?
verb (used with object), es·ti·mat·ed, es·ti·mat·ing. to form an approximate judgment or opinion regarding the worth, amount, size, weight, etc., of; calculate approximately: to estimate the cost of a college education. to form an opinion of; judge.