::Estimation

::concepts

Estimate::candies    Number::project    Value::which    Because::visible    Making::finding    Theory::amount

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The exact number of candies in this jar cannot be determined by looking at it, because most of the candies are not visible. The amount can be estimated by presuming that the portion of the jar that cannot be seen contains an amount equivalent to the amount contained in the same volume for the portion that can be seen.

Estimation (or estimating) is the process of finding an estimate, or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available.<ref name="PSWTPNK">C. Lon Enloe, Elizabeth Garnett, Jonathan Miles, Physical Science: What the Technology Professional Needs to Know (2000), p. 47.</ref> Typically, estimation involves "using the value of a statistic derived from a sample to estimate the value of a corresponding population parameter".<ref name="Kent">Raymond A. Kent, "Estimation", Data Construction and Data Analysis for Survey Research (2001), p. 157.</ref> The sample provides information that can be projected, through various formal or informal processes, to determine a range most likely to describe the missing information. An estimate that turns out to be incorrect will be an overestimate if the estimate exceeded the actual result,<ref>James Tate, John Schoonbeck, Reviewing Mathematics (2003), page 27: "An overestimate is an estimate you know is greater than the exact answer".</ref> and an underestimate if the estimate fell short of the actual result.<ref>James Tate, John Schoonbeck, Reviewing Mathematics (2003), page 27: "An underestimate is an estimate you know is less than the exact answer".</ref>

Estimation sections
Intro   How estimation is done    Uses of estimation   See also  References  External links

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