Defining Interpolation vs. Extrapolation
Interpolation is the process of estimating a value between two known data points. In contrast, extrapolation is the process of estimating a value by extending a known trend or sequence of data beyond the range of what is actually measured.
Section 2: Core Principles and Reliability
The fundamental difference lies in their reliability. Interpolation is generally considered a safe and reliable estimation because it is bounded by actual, collected data. Extrapolation is inherently more uncertain and speculative because it assumes that the trend observed within the data range will continue outside of it, which may not be the case.
Section 3: A Practical Example
Imagine you have recorded the temperature at 8 AM (60°F) and 10 AM (70°F). Estimating the temperature at 9 AM to be 65°F is an example of interpolation. Using the same data to predict that the temperature will be 90°F at 2 PM is an example of extrapolation.
Section 4: Why This Distinction Matters
This distinction is crucial in fields like science, engineering, and finance. Interpolation is used to fill in missing data points within a data set. Extrapolation is used for forecasting future trends, such as weather patterns or stock prices, but its predictions must be treated with caution due to the potential for significant error.