Process to evaluate the worth in money of an asset/product.
an approximation of a measure or calculation based on a strategy such as rounding, front-end estimation, compatible numbers (see also reasonableness of results)
an approximate calculation of quantity or degree or worth; "an estimate of what it would cost"; "a rough idea how long it would take"
probable calculation or valuation
The quantitative judgement of a variable.
determining an approximate amount, value or size of something. Quantitative estimation is determining the approximate number of items in a group. Computational estimation is determining the approximate result to an arithmetic calculation. Measurement estimation is determining the approximate length, perimeter, area, volume or other measurement of a geometric figure.
the use of rounding and/or other strategies to determine a reasonably accurate approximation, without calculating an exact answer.
Estimation is the calculated approximation of a result which is usable even if input data may be incomplete, uncertain, or noisy.