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Estimation vs Estimate

Definitions​

  • ‘Estimation’ (noun) refers to the act of guessing or roughly calculating the value, number, quantity, or extent of something’.
  • ‘Estimate’ (noun) means ‘a guess or rough calculation of the value, number, quantity, or extent of something’.

What’s the difference between ‘estimation’ and ‘estimate’?​

These two words are very similar in meaning, and are sometimes used interchangeably. But strictly speaking, ‘estimation’ refers to the process of guessing or calculating, while ‘estimate’ is the outcome of that process.

While ‘estimation’ is only used as a noun, ‘estimate’ is also a verb (e.g. to estimate a cost). ‘Estimate’ is always used in the context of evaluating or presenting numerical data.

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How they’re used​

Example sentences with ‘estimation’

  • The potential for unbiased estimation depends on the type of effect under consideration.
  • The estimation of probabilities in multidimensional contingency tables is considered.

Example sentences with ‘estimate’

  • Adjusting for companies' cash levels does not improve estimates of company value.
  • Our estimates were found to be highly correlated.