What is the math definition of a estimate?

more 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. Estimation (Introduction)

What is the legal definition of an estimate?

This word is used to express the mind or judgment of the speaker orwriter on the particular subject under consideration. It implies a calculation or computation,as to estimate the gain or loss of an enterprise.

What is an estimate in business?

Definition of an estimate An estimate is a document that you give to a customer, showing how much you expect to charge them for goods or services you’re going to supply. On the other hand, if you give a customer a quote or quotation, you have to supply the goods or services at the same price as you quoted.

What is an estimate in finance?

Definition: An estimate, as it relates to the creation of financial statements, is a calculation of a financial transaction for which no exact value is determinable, and is based upon judgment, historical understanding, and experience.

What is the definition of Estimate in math terms?

An estimate is an approximate calculation or evaluation, and an estimation is the process of approximately calculating or evaluating. So an estimate is the result of estimation.

What does it mean to estimate?

estimate, estimation(noun) a judgment of the qualities of something or somebody. “many factors are involved in any estimate of human life”; “in my estimation the boy is innocent”.

What is an estimate is based on?

An estimate is the numeric value of the estimator. An estimator is a rule or formula or function that tells how to calculate an estimate. In statistics, estimation refers to the process by which one makes inferences or deduces some conclusions about a population, based on information obtained from the sample data.

What does the name estimate mean?

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. noun. 1.