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In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. In calculus, it usually refers to an initial guess for a solution to an equation, which is gradually refined by a process that generates closer estimates. The difference between the estimate and the exact value is the error.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.

Estimation is the calculated approximation of a result which is usable even if input data may be incomplete or uncertain.## See also

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In statistics, see estimation theory, estimator.

In mathematics, approximation or estimation typically means finding upper or lower bounds of a quantity that cannot readily be computed precisely and is also an educated guess . While initial results may be unusably uncertain, recursive input from output, can purify results to be approximately accurate, certain, complete and noise-free.

In project management, see estimation (project management).

- Estimation theory (statistics)
- "Estimated" sign
- Fermi problem (physics)
- Guesstimate
- Optimism bias
- Reference class forecasting
- Sample size (statistics)

Construction Estimating- www.aspenational.org

Estimation!

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Last updated on Monday September 29, 2008 at 12:28:10 PDT (GMT -0700)

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This article is licensed under the GNU Free Documentation License.

Last updated on Monday September 29, 2008 at 12:28:10 PDT (GMT -0700)

View this article at Wikipedia.org - Edit this article at Wikipedia.org - Donate to the Wikimedia Foundation

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