An estimate is an educated guess for an unknown quantity or outcome based on known information. The making of estimates is an important part of statistics, since care
is needed to provide as accurate an estimate as possible using as little input data
as possible. Often, an estimate for the uncertainty 
of an estimate 
can also be determined statistically. A rule that tells how
to calculate an estimate based on the measurements contained in a sample is called
an estimator.
Estimate
See also
Error, Estimator, Estimator BiasExplore with Wolfram|Alpha
References
Iyanaga, S. and Kawada, Y. (Eds.). "Statistical Estimation and Statistical Hypothesis Testing." Appendix A, Table 23 in Encyclopedic Dictionary of Mathematics. Cambridge, MA: MIT Press, pp. 1486-1489, 1980.Referenced on Wolfram|Alpha
EstimateCite this as:
Weisstein, Eric W. "Estimate." From MathWorld--A Wolfram Web Resource. https://mathworld.wolfram.com/Estimate.html