estimation

Ballpark figure process

Estimation is the act of forming an approximate judgment about something's value, size, or nature.

A cost estimation calculates expected expenses.

In someone's estimation, a thing is good or bad based on their personal assessment.

Estimation also means regard or opinion: He rose in my estimation after that speech.

The word often implies calculation without precise measurement.

approximation

guess

Estimate without certainty

guesstimateRough, intuitive calculation
ballparkSports venue or estimate
roughUneven in surface

approximation · hunch · intuition · speculation · conjecture · supposition · assumption · stab · shot · hypothesis

assessment

evaluation

Determining worth or quality

appraisalEstimation of worth
analysisMethodical study of parts
reviewCritical written assessment

examination · audit · valuation · rating · scoring · grading · ranking · diagnosis · inspection · scrutiny

forecast

projection

Something that extends outward

predictionForecast of coming events
outlookAttitude toward the future
prognosisPredicted disease course

trend · anticipation · expectation · forecasting · scenario · budgeting · planning · timeline · quote · bid

calculation

computation

Mathematical processing work

formulaFixed method or notation
algorithmFinite problem-solving procedure
arithmeticMathematics of basic operations

mathematics · quantitative · numerical · modeling · statistics · analytics · precision · accuracy · regression · interpolation

research

study

Deliberate learning effort

surveySystematic data collection
experimentSystematic investigation procedure
investigationFormal examination of facts

data · finding · methodology · observation · measurement · inquiry · analysis · trial · control · report

statistics

sampling

Extracting subset for study

inferenceConclusion reached through reasoning
confidenceSelf-assurance or trust
probabilityQuantified chance of occurrence

variance · bias · likelihood · Bayesian · frequentist · unbiased · consistent · sample size · population · distribution

Categories

math practiceaddition, subtraction, multiplication, long division, fractions
Predictionprediction, forecasting, forecast model, extrapolation, prognosis
speculationconjecture, guess, guessing, speculation, hypothesis
number sensenumber sense, counting, numeracy, number recognition, number line
mental shortcutsmental shortcut, rule of thumb, hunch, gut feeling, educated guess
inductive reasoninginductive reasoning, generalization, generalizations, inference, extrapolation

Opposites

precision of knowledge

estimationcertainty

Total absence of doubt

fixed amount · known quantity · tabulation · enumeration · proof

regard or opinion

estimationcontempt

Disdainful disregard

disdain · scorn · disrespect · disfavor · loathing

cognitive engagement

estimationdisregard

Willful lack of attention

neglect · ignorance · indifference · dismissal · oversight

Phrases

ballpark estimationApproximate calculation, not precise
ball park estimationApproximate figure, not exact
cost estimationPredicting future expenses

Family

estimating, estimations

Familiarity: Top 50,000
Profile: Known to kids · Used worldwide · Timeless · Abstract · Everyday, not technical · Rated G