Estimation methods are techniques used to make educated guesses about unknown values or quantities. These methods are commonly applied in various fields, such as statistics, finance, and project management, to predict outcomes based on available data. Common estimation techniques include mean, median, and mode, which help summarize data sets, as well as sampling methods that allow for inferences about larger populations. In addition to basic statistical techniques, more complex estimation methods like regression analysis and Monte Carlo simulations are used to model relationships and assess risks. These methods help decision-makers evaluate scenarios and make informed choices, even when complete information is not available.