👉 Guestimating is a process used in statistics and probability theory to estimate probabilities of events based on sample data. It involves drawing samples from the population, then calculating the probability of each individual event given that you have sampled the entire population. For example, if you wanted to estimate the probability of a certain event happening in a group of 10 people, you could: - Sample 5 people. - Calculate the probability of them all not having the event happening (i.e., P(No Event
