Question

what is estimation? why is it important? explain with the help of an example.​

Answer 1

Estimation (or estimating) is the process of finding an estimate, or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available.

Answer 2

Estimation is the rough calculation of something like quantity, value,etc.

It is important to gain knowledge about something in approx.For example: In a shop u need to know how much bill u have to pay for certain things,so in that case u will estimate or do rough calculation in ur mind.