## ::Estimation

### ::concepts

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

{{#invoke:Hatnote|hatnote}}

**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

PREVIOUS: Intro | NEXT: How estimation is done |

<< | >> |