Question

What is difference of interpolation and exploration in forecast?

Answer 1

Extrapolation means to extend a set of

observations to some further point. For instance,

if we have two snapshots of a bowling ball at

different point in the lane, we can extrapolate

whether it will hit the pins at the far end of the

lane. We can also extrapolate backwards; in this

case, we can extrapolate that someone rolled the

bowling ball at a time before the first snapshot.

Induction is a special kind of extrapolation

which extends not just to a particular end result,

but to a general set of results that apply across a

range of cases.