noun An approximate calculation or judgment of the value, number, quantity, or extent of something
verb To roughly calculate or judge the value, number, quantity, or extent of something
In science, estimates are used to approximate quantities, measurements, and other variables in experiments and research.
In construction, estimates are used to calculate the cost of materials, labor, and other expenses for a project.
In finance, estimates are used to predict future earnings, expenses, and overall financial performance.
In business, estimates are used to project sales, expenses, profits, and other financial metrics.
In statistics, estimates are used to infer population parameters based on sample data.
In government, estimates are used to allocate budgets, plan public projects, and assess economic impact.
In engineering, estimates are used to determine the feasibility and cost of designing and building structures and systems.
In economics, estimates are used to forecast trends, analyze markets, and make informed decisions.
Writers often use estimates when pitching ideas for articles or books to publishers. They may need to estimate the word count, timeline, and potential audience size for their work.
Psychologists use estimates when conducting research studies or assessments. They may need to estimate the prevalence of certain behaviors or the likelihood of certain outcomes based on data analysis.
Architects use estimates when creating project proposals for clients. They need to estimate the cost, timeline, and resources required for a construction project to provide accurate quotes.
Financial analysts use estimates when analyzing company performance or predicting future market trends. They may need to estimate revenue projections, expenses, and investment returns to make informed decisions.
Engineers use estimates when designing and planning infrastructure projects. They need to estimate the materials, labor, and time required to complete a project within budget and schedule constraints.