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Not extreme is rather moderate. Conservative estimate means there’s a tendency to not change what was estimated in the past. Moderate would mean that a small change would be accepted.
Conservative means “not extreme”
E.g. conservative estimates
Words can have multiple meanings - it might be best to find one that doesn’t have the same baggage that conservative has, such as “risk-averse”
Not extreme is rather moderate. Conservative estimate means there’s a tendency to not change what was estimated in the past. Moderate would mean that a small change would be accepted.