ESTIMATING Meaning and
Definition
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Estimating is the process of making an approximate calculation or judgment about the quantity, value, or extent of something. It involves forming an opinion or making an educated guess based on available information, previous experience, or analysis of relevant factors.
In various fields, estimating is utilized to make predictions or assessments, particularly in situations where precise or accurate measurements are difficult or impossible to obtain. For instance, in construction, estimating is a vital aspect of project planning and budgeting. It involves evaluating the costs, timeframe, and resources required for completing a construction project based on factors such as material expenses, labor rates, other associated expenditures, and historical data on similar projects. Estimating in this context helps stakeholders, such as contractors, architects, or clients, to anticipate and prepare for the financial and logistical aspects of the project.
Estimating can also be employed in scientific research, market analysis, or financial forecasting. In these contexts, experts may estimate parameters, values, or trends based on data analysis, statistical modeling, or qualitative assessments. Through estimating, researchers can project potential outcomes, evaluate risks, and make informed decisions.
Overall, estimating allows individuals to make educated approximations, informed predictions, or calculated judgments to guide decision-making processes. It involves analyzing available information, applying relevant methodologies, and leveraging experience or expertise to provide reasonable, albeit approximate, assessments regarding the quantity, value, or extent of a particular subject or situation.
Top Common Misspellings for ESTIMATING *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for ESTIMATING
Etymology of ESTIMATING
The word "estimating" has its roots in the Latin verb "aestimare", which means "to value" or "to determine the worth of something". This Latin verb itself comes from the noun "aestimatio", meaning "a valuation" or "an estimation". The word "estimating" emerged in English language around the early 17th century, derived from this Latin origin.
Similar spelling words for ESTIMATING
Conjugate verb Estimating
CONDITIONAL
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would estimate
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FUTURE
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FUTURE PERFECT
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PAST
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estimated
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PAST PERFECT
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PRESENT
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estimate
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PRESENT PERFECT
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have estimated
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have estimated
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