Define estimation
The process of finding an approximate value rather than an exact one.
True or false: Estimation is only used in addition and subtraction.
FALSE
Estimation can be applied in multiplication, division, and other operations.
Fill in the blank: Rounding is a common method used in ______.
estimation
What is the purpose of benchmarking in estimation?
To provide a reference point for making estimates.
Define front-end estimation.
A method where the leading digits of numbers are used for quick estimates.
What does compatible numbers mean in estimation?
Numbers that are easy to compute mentally and are close to the actual values.
True or false: Estimation can improve calculation speed.
TRUE
Fill in the blank: Clustering is used in estimation to group similar ______.
values
What is rounding up?
Increasing a number to the nearest whole number or specified place value.
Define rounding down.
Decreasing a number to the nearest whole number or specified place value.
What is the mean in estimation?
The average of a set of numbers, used for estimating central tendency.
True or false: Estimation is not useful in real-life scenarios.
FALSE
Estimation is widely used in budgeting, planning, and everyday calculations.
Fill in the blank: Estimation helps in making quick ______.
decisions
What is overestimation?
An estimate that is higher than the actual value.
What is underestimation ?
An estimate that is lower than the actual value.
Define percentage estimation.
Estimating a value based on a percentage of a whole.
True or false: Estimation can help identify errors in calculations.
TRUE
Fill in the blank: Estimation is often used in ______ to simplify complex calculations.
statistics
What is the range in estimation?
The difference between the highest and lowest estimates.
Define significant figures.
Digits in a number that contribute to its precision in estimation.
What is mental maths in estimation?
Performing calculations in your head without the use of paper or a calculator.
True or false: Estimation requires exact calculations.
FALSE
Fill in the blank: Estimation is essential in ______ to forecast outcomes.
project management
What is visual estimation ?
Estimating quantities or measurements by sight without precise tools.
