GUESSTIMATES Meaning and
Definition
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Guesstimates, a portmanteau of "guess" and "estimate," refers to approximate calculations or estimations made using one's intuition, personal judgement, or limited information. It is an informal term commonly used in contexts where precise measurements are impractical or unavailable, and is often employed in situations requiring quick assessments, subjective evaluations, or speculative predictions.
Guesstimates are typically based on limited or incomplete data, relying heavily on guesswork and approximations, rather than on precise measurements or mathematical analysis. They are often made when an exact answer is not achievable or necessary, and are utilized in a wide array of scenarios, including business forecasting, problem-solving exercises, planning endeavors, and casual conversations.
However, guesstimates should be distinguished from mere wild guesses, as they are usually informed by some level of expertise, experience, or logical reasoning. While they lack the rigor and exactitude of formal estimations, guesstimates are still intended to provide a ballpark figure or a rough assessment of a quantity, quality, or outcome.
The term guesstimates underscores the inherent uncertainty associated with approximate calculations, emphasizing that these estimations carry a higher level of subjective interpretation compared to precise measurements. Though they may lack the precision of exact calculations, guesstimates can still serve as useful tools in situations where accuracy cannot be guaranteed or practicality dictates hasty decision-making.
Common Misspellings for GUESSTIMATES
- guestimates
- fuesstimates
- vuesstimates
- buesstimates
- huesstimates
- yuesstimates
- tuesstimates
- gyesstimates
- ghesstimates
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- guesstamates
Etymology of GUESSTIMATES
The word "guesstimates" is a merging of two words: "guess" and "estimates". In terms of etymology, "guess" originated from the Old Norse word "giz" which means "to take aim". "Guess" implies making an estimation or prediction without having complete or precise information. On the other hand, "estimates" comes from Latin and is derived from the word "aestimare", which means "to value" or "to appraise". The word "guesstimates" emerged during the mid-20th century in colloquial English, combining the two concepts to refer to rough calculations or approximate estimations. It emphasizes the uncertain nature of an estimate that is based on guesses rather than precise data.
Similar spelling words for GUESSTIMATES
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