what is extrapolation

Extrapolation is a statistical method used to estimate values of data points beyond the known data set. It is a type of estimation, beyond the original observation range, of the value of a variable on the basis of its relationship with another variable. Extrapolation is similar to interpolation, which produces estimates between known observations, but extrapolation is subject to greater uncertainty and a higher risk of producing meaningless results. Extrapolation is used to predict future trends and outcomes based on past data. It is an important concept not only in mathematics but also in other disciplines like psychology, sociology, and statistics. Linear extrapolation and polynomial extrapolation are two widely used methods of extrapolation. Linear extrapolation means creating a tangent line at the end of the known data and extending it beyond that limit. Polynomial extrapolation uses a polynomial equation to make predictions about future values. Extrapolation is especially helpful for time series and geospatial analysis due to the technique’s ability to take into account the impact of temporal and spatial factors on the data.