Definitions

1. noun

the act or process of forming an opinion or idea about the value or amount of something, especially by making an educated guess or calculation

“The company’s financial estimation of the project’s costs was off by millions.”

2. noun

a rough or approximate idea of the value or amount of something

“We need to make an estimation of the number of people attending the concert.”

3. verb

to form an opinion or idea about the value or amount of something, especially by making an educated guess or calculation

“The accountant had to estimate the costs for the new building.”

4. verb

to guess or suppose the value or amount of something

“Try to estimate the time it will take to finish the project.”