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Interpolation

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Q: What is the term for estimating a value that lies between two known data points?
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What is estimating a value between two known values in a data set is called?

If you know the two values you shouldn't have to estimate. But you are looking for the mean, or average. Simply add them together and divide by two. Otherwise you are just estimating.


Differentiate between extrapolation and interpolation?

Interpolation is a math method of estimating an answer for something when you know 2 data points, one greater and one less than the answer you are looking for. Extrapolation estimates an answer for a data point when you know data either greater than or less than the one you need, but not both.


What is it to use given data to estimate a value beyond the known values?

It means to decide what the next thing would be based on the things you already know. For example, if you had a linear equation (a graph where the line is completely straight) and you knew three points, you would be able to use the three points (the known values) to figure out what the fourth or fifth points (the value you are estimating) would be based on the space between each point (the given data).It is called extrapolation (or forecasting) and is usually subject to quite large errors.


What is the hardest part of estimating value of property?

The hardest part of estimating the value of property is finding comparables. To determine the value, other recently sold properties need to be looked at.


Another word for approximating a value is?

Estimating.


Do insurance companies use property cost estimating software?

Insurance companies usually use the property tax value when estimating a propertys value. Insurance estimating software will help them in the even of a loss to estimate the replacement costs.


What is to find an approximate value for a number called?

estimating


What is displacement value?

the shortest distance between two points.


What is percentage error?

Given a true value and the measured value,the error is measured value - true value;the relative error is (measured value - true value)/true value, andthe percentage error is 100*relative error.


What is the difference between rounding to a specified place value and estimating using front-end rounding?

Front end estimation is simpler but usually more crude.


What is the word for the distance between two points on a graph?

The absolute value of the difference.


What is the change in the value of the vertical coordinate between two points on a graph?

rise