A prediction or forecast is a statement about a future event or about future data. Predictions are often, but not always, based upon experience or knowledge of forecasters. There is no universal agreement about the exact difference between "prediction" and "estimation"; different authors and disciplines ascribe different connotations.
The Old Farmer's Almanac is famous in the US for its (not necessarily accurate) long-range weather predictions.
Asklepios and Hippocrates bookend the façade of the Royal College of Physicians of Edinburgh, statuary by Alexander Handyside Ritchie (1804-1870)
Estimation is the process of finding an estimate or approximation, which is a value that is usable for some purpose even if input data may be incomplete, uncertain, or unstable. The value is nonetheless usable because it is derived from the best information available. Typically, estimation involves "using the value of a statistic derived from a sample to estimate the value of a corresponding population parameter". The sample provides information that can be projected, through various formal or informal processes, to determine a range most likely to describe the missing information. An estimate that turns out to be incorrect will be an overestimate if the estimate exceeds the actual result and an underestimate if the estimate falls short of the actual result.
The exact number of candies in this jar cannot be determined by looking at it, because most of the candies are not visible. It can be estimated by assuming that the density of the unseen candies is the same as that of the visible candies.
