Etymology
The word "guesstimate" is a portmanteau of "guess" and "estimate".
Meaning
A guesstimate is an approximation or estimate that is made without precise data or rigorous calculation. It is typically used when precise information is not available or the effort required to obtain it would be disproportionate to the value of the result.
Origin
The term "guesstimate" first appeared in the early 20th century. It is believed to have originated in the business world, where it was used to describe quick and informal estimates of costs, sales, or other financial metrics. The term gained wider usage in the 1960s and 1970s, particularly in fields such as engineering, technology, and project management.
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