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The phrase "formal estimates" is correct and usable in written English
You can use it when referring to a calculation or assessment that has been done in a thorough, organized manner. For example, "The project manager provided the results of their formal estimates to the executive team."
Exact(12)
As the authors of the report that so impressed him admit, theirs are "subjective indications … some of which should be regarded as illustrative calculations rather than formal estimates".
The clause that limited the spraying of Corexit to "rare occasions" was strict: sorties had to be approved by a senior E.P.A. official, and formal estimates had to be made of the size and composition of slicks.
But Rep. Chris Collins (R-N.Y ., who sits on the committee, told BloombeR-N.Y . the vote might take place before the Congressional Budget Office and Joint Committee on Taxation get a chance to produce formal estimates of the bill's effects on insurance coverage and the federal budget.
For a number of reasons however these calculations do not represent formal estimates of R0 for any specific infectious disease.
We have derived formal estimates of overdiagnosis from empirical breast screening data.
We did not make formal estimates of the economic costs and benefits of the interventions we examined.
Similar(48)
Airport groups have not made a formal estimate of the number of transfer passengers who might be affected by the new regulation.
Molly Watkins, a spokeswoman for the Campaign Finance Board, said that while a formal estimate had not yet been prepared, the total cost of the program would most likely be much less than the mayor had predicted, perhaps about $50 million.
The last formal estimate of the jaguar population was in 2005, when about 50 of the animals were believed be living on the peninsula, according to Inogo, a joint United States-Costa Riconservationion program facilitated by Stanford University.
The announcement — the first formal estimate of the financial effect of delays in the A400M program — proved to be a fresh blow to investor confidence in the company, which is still struggling to emerge from the upheaval wrought by last year's A380 crisis.
A9 Increase on Weapons Estimate American intelligence agencies have tripled their formal estimate of shoulder-fired surface-to-air missile systems believed to be at large worldwide, after determining that at least 4,000 of the weapons from Iraq's prewar arsenals cannot be accounted for.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com