**Estimation** is the process of finding an **estimate**, or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. Typically, estimation involves "using the value of a statistic derived from a sample to estimate the value of a corresponding population parameter". The sample provides information that can be projected, through various formal or informal processes, to determine a range most likely to describe the missing information. An estimate that turns out to be incorrect will be an **overestimate** if the estimate exceeded the actual result, and an **underestimate** if the estimate fell short of the actual result.

Read more about Estimation: How Estimation Is Done, Uses of Estimation

### Other articles related to "estimation":

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**estimation**...

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### Famous quotes containing the word estimation:

“... it would be impossible for women to stand in higher *estimation* than they do here. The deference that is paid to them at all times and in all places has often occasioned me as much surprise as pleasure.”

—Frances Wright (1795–1852)

“A higher class, in the *estimation* and love of this city- building, market-going race of mankind, are the poets, who, from the intellectual kingdom, feed the thought and imagination with ideas and pictures which raise men out of the world of corn and money, and console them for the short-comings of the day, and the meanness of labor and traffic.”

—Ralph Waldo Emerson (1803–1882)

“No man ever stood lower in my *estimation* for having a patch in his clothes; yet I am sure that there is greater anxiety, commonly, to have fashionable, or at least clean and unpatched clothes, than to have a sound conscience.”

—Henry David Thoreau (1817–1862)