Outrageously Funny Word Dictionary :: Guestimate

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What is the definition of Guestimate? 🙋

👉 In computational mathematics, a "guestimate" is an algorithmic approach to estimation that involves making educated guesses or approximations rather than relying on precise calculations. Guestimates are often used in financial modeling and other areas where precision is not required but accuracy is important. Guestimates are typically based on the assumption that there may be some uncertainty or randomness involved, such as a random walk or a stochastic process. They can be applied to various types of models including linear regression, time series analysis, and more


guestimate

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