The word "Centesimation" refers to the act of estimating or guessing something to the nearest hundredth. The spelling of this word follows the standard English pronunciation rules, where "cen" represents the prefix meaning "hundred," "ti" represents the pronunciation of the letter "t," "si" represents the pronunciation of the letter "s," "ma" represents the pronunciation of the letter "m," and "tion" represents the suffix meaning "action or process." The phonetic transcription of this word is sɛntɛsɪˈmeɪʃən.