- After fitting a model to a dataset (through linear regression), we can use that model to estimate values we don’t have data points for.
- When estimating values that lie within the range of available raw data points, we refer to it as interpolating.
- Interpolation is considered accurate if the fit has high strength and sufficient data points were used.
Example: if a linear fit is creating using data points ranging in value from 1 to 10, estimating the value of the response variable when the explanatory variable has a value of 2 would be considered interpolation.
Read More »3.3 Using the Formula for a Fitted Line