What is extrapolation?
(A) Extrapolation is where we find a value exact on our set of data points
(B) Extrapolation is where we find a value outside our set of data points.
(C) Extrapolation is where we find a value inside our set of data points
(D) None of these

Hint: Extrapolation is a process in which a value is estimated by the continuation of the given set of data points. It is used to extend a given pattern and predict the unknown values.

Complete answer:
To be precise, extrapolation in mathematics refers to the process in which a value is found by its estimation beyond the given range of data points. It correlates the value of a variable on the basis of its relationship with another variable.
For extrapolation, the data points at the x-axis are marked as ${x^1},{x^2}$......... upto \[{x^n}\], and then the extension of the series or factors outside the range of the given known points is continued, for the approximate value to be found.

To successfully extrapolate data and find a more approximate value, we must have correct and accurate model information provided, and if possible, we should use the data to find a best-fitting curve on the graph of the most appropriate form (for e.g. linear, exponential).
So, the correct answer is option (B).

Note:
The method of extrapolation can be applied to solve the interior re-construction problems more efficiently. We can also use this technique in graphs following a specific trend and evaluate the best-fitting curve on that point.