Asked by: Fulvio Leggettmedical health diabetes
What is extrapolation in regression?
Last Updated: 1st February, 2020
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Similarly one may ask, what do you mean by extrapolation?
Extrapolation is an estimation of a value basedon extending a known sequence of values or facts beyond the areathat is certainly known. In a general sense, to extrapolateis to infer something that is not explicitly stated from existinginformation.
Also Know, why do we extrapolate graphs? Graphs are useful in Chemistry because they allowus to make predictions. Interpolate means to insert points betweenknown points on the graph. Extrapolate means toinsert points either before the first known point, or, after thelast known point on the graph.
Herein, when can you extrapolate data?
In engineering, it will always be necessary toextrapolate, given data from the present and previoustime, to some point in the future. For example, it is possible totake the current voltages of a system, and it may be necessary, inorder to respond appropriately to a system, to extrapolate afuture value.
What does extrapolation mean in business?
The aim is to take out the extremes of data from periodto period. Moving averages are often calculated on a quarterly orweekly basis. Extrapolation involves the use of trendsestablished by historical data to make predictions about futurevalues.