Explanation:
Using 50 for the number of weeks in a year is an overestimate.
An overestimate is when a value or quantity is estimated to be larger than the actual value. In this case, using 50 weeks for the number of weeks in a year is an overestimate because there are actually 52 weeks in a year. By using 50 weeks, we are assuming there are fewer weeks in a year than there actually are.
To understand this concept better, let's consider an example. Let's say you are planning to save $10 per week for a year. If you use an overestimate of 50 weeks in a year instead of the correct 52 weeks, you will end up calculating the total savings as $10 x 50 = $500. However, if you use the correct number of weeks, your total savings would be $10 x 52 = $520. So using an overestimate in thiscase would lead to an incorrect calculation and a lower total savings amount.
In summary, using 50 for the number of weeks in a year is an overestimate because it assumes there are fewer weeks in a year than there actually are.