Estimates

Estimate (What?)

Estimates are approximations or educated guesses about a quantity, value, time, cost, or other measurable factors. They are not exact numbers but provide an approximation that is good enough for the context (surrounding circumstances.

Examples of Estimates

1. Estimating the time and cost needed to install a new inverter and battery system in a Camper van.

2. Estimating the amount of water and food that two people need for a two day trip in a desert area.

3. Estimating the cost that should be charged for a month long construction job.

4. Estimating the cost of items to be purchased so that have a way to check if a cashier is charging you the right amount.

5. Making an estimate as a means to check a detailed math calculations. If the detailed calculation is approximately equal to the estimate, then it is likely that it is error free.

Rationale for Estimates

Here are some reasons why it is worth learning how to skillfully do estimates.

1. Sometimes, they are the only way to proceed because exact calculations cannot be done because of uncertainties.

2. Often estimates are much faster and easier than detailed calculations.

3. Estimates are great for double checking and validating.

4. Estimates provide insights about what is most important.

5. For college students, estimates can be used on multiple choice exams to quickly figure out a right answer.

6. In the real world, most engineering tasks are estimates and estimation mindset is super useful.

How to Skillfully Estimate

Principles

1. Anything can be estimated.

2. Most everything is an estimate except for textbook problems which often have a “right answer.”

Process

1. Identify the best method for estimating for your context.

2. Apply this method.

3. If possible, check this with another method.

Tips

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