Where contracts for the purchase of products or services were being agreed but a) The seller was unsure as to the precise cost of providing goods or services and b) the buyer wanted flexibility over the total amount (and so cost) of products or services bought.
For example, software development often progresses on the basis that overall development costs are not known but on the basis of an estimate smaller items of work can be agreed for a certain cost.
Another example could be where a building or structure such as a bridge is being built and the costs of materials, iron or concrete, may vary.
The total cost of the entire project in both cases can therefore only ever be an estimate.
If you have the exact value, why do you need to estimate!
estimate
Estimates are never exact. They are a best guess at what the answer is. They are always going to be approximate.
estimate.
an estimate
There are two main situations in which you would estimate:when there is no analytical solution and the only way is to estimate a solution using iteration,when an exact answer is not required or the time or effort required to obtain an exact answer cannot be justified by the improved precision.
You can estimate when an exact answer is not needed.
If you have the exact value, why do you need to estimate!
over-estimate
over estimate
Your estimate will be greater than the exact number.
Not usually.
there is no need for an estimate - exact answer is 212.80
estimate
estimate
The closest estimate is the exact answer. For any other estimate, you can always get closer.
The Spanish word 'cabalas' loosely means to guess, conjecture, suspect or estimate. There is no exact translation of the word cabalas in English but these examples are some of the closest available.