﻿ Definition and examples estimate | define estimate - Probability and Statistics - Free Math Dictionary Online

# Estimate

## Definition of Estimate

To estimate is to find a number that is close to the exact answer.

### Example of Estimate

A pen costs \$4.15. Estimate the cost of 5 such pens.
\$4.15 is closer to \$4 than \$5. So, the cost of 5 such pens would be about \$20.

A. \$4,000
B. \$14,000
C. \$5,000
D. \$6,000

### Solution:

Step 1: Tim and his wife together earn \$9,635 and spend \$4,385 every month.
Step 2: \$9,635 rounded to the nearest thousand is \$10,000.
Step 3: \$4,385 rounded to the nearest thousand is \$4,000.
Step 4: The amount they save every month
= 10,000 - 4,000 = 6,000.
Step 5: So, Tim and his wife save about \$6,000 every month.

### Real-world Connections for Estimate

Many companies use estimating techniques to find out the cost of buying materials or machineries, the cost involved in manufacturing goods, etc. The process of estimation gives them a fair idea of the amount to be invested.

Translate :

Please provide your email for a free trial as a Teacher or Student. This trial will be valid for the current academic year (2015-16). An email to this address includes the password to login to the full web application. You will also receive other promotional emails as and when such deals become available.

I am a Teacher Student