Guesstimate
From Wikipedia, the free encyclopedia
Guesstimate is a portmanteau of the words guess and estimate. It describes a process of estimation that includes an element of guesswork, and implies that the result of the guesstimate will be less reliable than an estimation based on more confident information. Guesstimate may be used as a verb or a noun, similarly to the word estimate.
The word is usually not considered correct in formal English. Most if not all users of the word would be aware of this, and would use the word in a humorous or informal way. However, both the Oxford English Dictionary and Merriam-Webster include definitions for "guesstimate" and, according to the OED, it has been used in print as early as 1936.
Guesstimates form a part of many case interviews. The interviewee may be asked to calculate anything from the number of buffaloes in Indonesia to the number of 6 pack beers sold on St.Patrick's Day in Michigan. Though the interviewer is not expecting a near accurate answer, it is important to follow a line of logic to arrive the final guesstimate.
