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What is Regression? How is it Used? Differences Between Interpolation and Extrapolation

  • Regression is a statistical method used to identify relationships between data by translating trends into a mathematical model.
  • Interpolation is used to estimate missing values within a known data range, while extrapolation predicts values outside the existing data range.
  • Interpolation is more reliable as it remains within the range of known data, whereas extrapolation carries more uncertainty.
  • The choice between interpolation and extrapolation depends on the nature and distribution of the data, with various methods available for different scenarios.

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