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 estimating What is estimating? definition and meaning BusinessDictionary.com. Thomas needed to build shack in his back yard for extra storage so he began estimating the costs to build this shack by factoring in materials such as wood, nails, flooring, roofing tiles and came to the price of 500. estimating Add, subtract, multiply, or divide to solve one-step word problems involving masses or volumes that are given in the same units, e.g, by using drawings such as a beaker with a measurement scale to represent the problem. For example, by truncating the decimal expansion of 2, show that 2 is between 1 and 2, then between 1.4 and 1.5, and explain how to continue on to get better approximations.' Estimation - Wikipedia. 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. Unit 4 Section 6: Estimating. Unit 4 Section 6: Estimating. The best way to estimate the answers to calculations without a calculator. is to round the numbers sensibly and then carry out the calculation by hand. Often, the numbers in the question can just be rounded to 1 significant figure, but.