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es·ti·mate   
(st-mt)  See the pronunciation key 

TRANSITIVE VERB:
es·ti·mat·ed, es·ti·mat·ing, es·ti·mates

1. To calculate approximately (the amount, extent, magnitude, position, or value of something).
2. To form an opinion about; evaluate: "While an author is yet living we estimate his powers by his worst performance" (Samuel Johnson).

NOUN:
(-mt)

1. The act of evaluating or appraising.
2. A tentative evaluation or rough calculation, as of worth, quantity, or size.
3. A statement of the approximate cost of work to be done, such as a building project or car repairs.
4. A judgment based on one's impressions; an opinion.

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ETYMOLOGY:
Latin aestimre, aestimt-

OTHER FORMS:
esti·mative(Adjective), esti·mator(Noun)

SYNONYMS:
estimate, appraise, assess, assay, evaluate, rate¹

These verbs mean to form a judgment of worth or significance. Estimate usually implies a subjective and somewhat inexact judgment: difficult to estimate the possible results in advance. Appraise stresses expert judgment: appraised the works of art. Assess implies authoritative judgment in setting a monetary value on something as a basis for taxation: assessing real estate for investors. Assay refers to careful examination, especially to chemical analysis of an ore: will assay the ingot. In extended senses appraise, assess, and assay can refer to any critical analysis: appraised his character; will assess the impact of higher taxes; assaying the idea's merit. Evaluate implies considered judgment in ascertaining value: evaluating a student's thesis for content and organization. Rate involves determining the rank or grade of someone or something in relation to others: rated the restaurant higher than any other in the city.