Meaning & Definition of word "Estimate"
to
Estimate
/ˈɛstɪmeɪt/
noun:
- 1. An approximate calculation or judgment regarding the value, number, quantity, or extent of something.
- Example: The contractor provided an estimate for the renovations.
- 2. A valuation or assessment of something.
- Example: The estimate of the house's worth was significantly higher than expected.
verb:
- 1. To determine an approximate value, amount, or quantity.
- Example: We need to estimate the cost of the project before proceeding.
- 2. To form an opinion or judgment about something.
- Example: He was asked to estimate the effectiveness of the new marketing strategy.
Etymology
Middle French 'estimer', from Latin 'aestimare' meaning to value or appraise.
Common Phrases and Expressions
underestimate:
To value something as less than its actual worth.
ballpark estimate:
An approximate estimate meant to be fairly close to the actual value.
educated guess:
A guess that is made based on knowledge or experience.
Related Words
estimate:
a calculated approximation or assessment of some value
appraisal:
an expert estimate of the value of something
valuation:
the process of determining the current worth of an asset or company
assess:
to evaluate or estimate the nature, ability, or quality of
Slang Meanings of estimate
Meaning: guesstimate
Example Sentence: I’ll just guesstimate how many people will show up.
Meaning: number crunch
Example Sentence: We need to number crunch before giving an estimate.