Ever been asked "how long will it take you to do X", but you've never done X in your life.
You spend a few seconds in your head, think well X is kinda like Y and its also kinda like Z. Y or Z would take me 3-5 days to do so therefore X should take me 3-5 days to do
Congratulations, you've just performed a SWAG.
a WAG is a less scientific guess, I.e. Who do you think will win the superbowl, well I think it will be X cause they have brighter colored jersey's and it will blind the other team
In other words, it’s a plain, ordinary “hunch.” Just because it’s a hunch doesn't make it any less valid, because we all operate on hunches. Ask any coach of any sports team, they'll tell you it’s about gut feelings (and alot of planning based on those feelings)