The English term 'estimation' has several different meanings: 1: a judgment of the qualities of something or somebody; 2: the respect with which a person is held; 3: an approximate calculation of quantity or degree or worth; 4: a document appraising the value of something (as for insurance or taxation)
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An estimate is when you make your best guess. Like a magnitude estimate of 593+731 you would round 593 up to 600. Then you would round 731 down to 700 or 730 depending on your teachers directions. If you add 730+600 that equals1,330.