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What is accuracy and Estimating?

Updated: 9/22/2023
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estimate

vb 1. to form an approximate idea of (distance, size, cost, etc); calculate roughly; gauge 2. (tr; may take a clause as object) to form an opinion about; judge, to estimate one's chances 3. to submit (an approximate price) for (a job) to a prospective client 4. tr statistics, to assign a value (a point estimate) or range of values (an interval estimate) to a parameter of a population on the basis of sampling statistics

n 1. an approximate calculation 2. a statement indicating the likely charge for or cost of certain work 3. a judgment; appraisal; opinion

accuracy

n (pl -cies ) faithful measurement or representation of the truth; correctness; precision

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