ENTREPRENEURSHIP

Detailed explanation-1: -: to judge tentatively or approximately the value, worth, or significance of. : to determine roughly the size, extent, or nature of. : to produce a statement of the approximate cost of.

Detailed explanation-2: -Some common synonyms of estimate are appraise, assess, evaluate, rate, and value. While all these words mean “to judge something with respect to its worth or significance, ‘’ estimate implies a judgment, considered or casual, that precedes or takes the place of actual measuring or counting or testing out.

Detailed explanation-3: -A ballpark estimate, is a rough initial estimate based on high level client objectives, and a large margin of uncertainty. The deliverables are not clear yet, therefore out of necessity, this estimate must be a rough guess. A ballpark estimate should be a price range, rather than a fixed fee.