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English2 Posted 17 years ago
Grammar

Approximate Value or Estimated Value

Hello english gurus,

Is there any difference between "approximate value" and "estimated value?"

Please help!

Thanks!
  

Top answer

Hi English2, Yes, there is. If something costs $7,987, I may say it's approximately $8,000. It means that it's a number close to the actual.

— BarbaraPA

  • Hi English2, Yes, there is.
  • If something costs $7,987, I may say it's approximately $8,000.
  • It means that it's a number close to the actual.
  • I may or may not know its EXACT value, but I can be very close.
  • If I'm not sure of something's value, but I make my best guess, then I have estimated its value.
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3 Answers
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Hi English2,

Yes, there is.

If something costs $7,987, I may say it's approximately $8,000. It means that it's a number close to the actual. I may or may not know its EXACT value, but I can be very close.

If I'm not sure of something's value, but I make my best guess, then I have estimated its value.
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But, as far as I know, estimate means an approximate calculation of something, right? I mean, that's pretty much the same, isn't it?

Like this...

That house has an estimated value of $1 million.
That house has an approximate value of $1 million.

Well, I guess it's not a big deal. I can still use either word, can't I?

Thanks, Barbara!
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It doematter. As the previous post explains, you should only use estimate if you don't know or can't know the exact figure. Estimation is a best guess, which either is exactly correct or is wrong. Approximation is not a guess, but an assertion of fact. For example: a rounded number, which is a correct approximation if it is merely close.
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