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It is a bit confusing. An order of magnitude is a factor of 10, but an order of magnitude estimate is more like a factor of 3, or the square root of 10. In some cases it is simply a "ball park" estimate. For example if a company give an order of magnitude estimate for a major construction project of 10,000,000 dollars, it could be anywhere from 3 million to 30 million, but usually it means roughly 10,000,000, give or take a few million.

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โˆ™ 2016-10-01 01:42:32
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โˆ™ 2016-09-30 01:35:40

It is a rough estimate, which aims to tell you the approximate order of magnitude, so basically, the closest power of ten.

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