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Interpolation is a way to estimate or guess a value that falls between two known values. It's like connecting the dots on a graph to figure out what the value would be at a specific point in between those dots.
Imagine you know the price of a house in 2010 was $200,000, and in 2015, the price was $250,000. You want to estimate the price of the house in 2013. Using interpolation, you can figure out that the price increased by $50,000 over five years, or $10,000 per year. So, in 2013, the estimated price would be $200,000 + (3 x $10,000) = $230,000.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
In the world of numbers and trends,
Interpolation is our friend.
A way to guess, estimate too,
Between known values, that's the clue.
Like connecting dots upon a chart,
We find the value, oh so smart!
Between the years, or points we see,
Interpolation is the key.
A house's price, from low to high,
We find the middle, just nearby.
A helpful tool, we do agree,
In real estate, interpolation's free!