Interpolation and extrapolation, Mathematics

Assignment Help:

Interpolation is a method of statistical estimation and the word literally means 'making insertions'. Let us consider a well-known situation which requires the use of interpolation. Assume the census is conducted once in ten years. So, typically the exact head count of the population of the country is available only for years 1921, 1931, 1941, 1951, 1961, 1971, 1981 and 1991. If we need to know population of the country for any intermediary year, say, 1985, one logical approach would be to work forwards from the population of 1981, by adding births and inflow of people into the country and deducting deaths and outflow of people from the country during the period 1981 to 1985. Though, this approach would give us an accurate population figure for 1985, the required data on births, deaths, inflow and outflow of people may be difficult to gather and the cost of compiling such data may exceed the benefit that may accrue from the exercise. The population figure for the year 1985, may be required to correlate the demand of a product with the population and the inferences to be drawn may not be highly sensitive to minor variations in the population figure. That is, while the data on population in 1985 is required, a one hundred percent accurate figure is really not required.

This is usually accomplished with a few steps of calculation and the figure so obtained is fairly correct as long as the assumptions underlying interpolation hold good.

Suppose, the same firm by studying the past correlation of demand for its products with the population wants to predict the demand for a future year, say, 1997, through a forecast of the population figure. This is possible through the use of the technique extrapolation.                          


Related Discussions:- Interpolation and extrapolation

Ratio, There are only Chinese and Malay pupils in a hall.The ratio of the n...

There are only Chinese and Malay pupils in a hall.The ratio of the number of boys to the number of girls is 2:3.The ratio of the number of Chinese boys to the number of Malay boys

Math134, how to sketch feasible set

how to sketch feasible set

Finding length and height with volume and width?, I figured out the volume ...

I figured out the volume and the width, but I have no idea how to use that information to get the height and the length!

Limits, lim(x->0) xln²(xln(x))

lim(x->0) xln²(xln(x))

Working definition of limit - sequences and series, Working Definition of L...

Working Definition of Limit 1. We state that if we can create an as close to L like we want for all adequately large n.  Alternatively, the value of the a n 's approach

Ellipse, alpha and beta are concentric angles of two points A and B on the ...

alpha and beta are concentric angles of two points A and B on the ellipse.

Sketch the feasible region, Sketch the feasible region for the following se...

Sketch the feasible region for the following set of constraints: 3y - 2x  ≥ 0 y + 8x  ≤  53 y - 2x  ≤  2 x  ≥ 3. Then find the maximum and minimum values of the objective

Cartesian Coordinates, In the view below of the robot type of Cartesian Coo...

In the view below of the robot type of Cartesian Coordinates, is not the "Z" and "Y" coordinates reversed? http://www.expertsmind.com/topic/robot-types/cartesian-coordinates-91038

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd