Question

Explain the difference and similarity between data interpolation and data extrapolation. (6 pts)

Give example for each (2 pts).

Answer 1

Similarities:

1. Extrapolation and interpolation are both used to estimate hypothetical values for a variable based on other observations.

2. The predictions in both cases are not exactly equal to actual value

Differences:

1. Interpolation is guessing data points that fall within the range of the data you have, i.e. between your existing data points. Extrapolation is guessing data points from beyond the range of your data set.

2. Interpolation generally has lesser error in prediction as compared to extrapolation.

For example: If a linear regression line y=x+3 exists for some data points in between (0,3) and (10,13). Then intrapolation is predicting value for x=7 and extrapolation is predicting for x=12.