The following appeared in the magazine Financial Times, March 23,1995: "When Elvis Presley died in 1977, there were 48 professio
nal Elvis impersonators. Today there are an estimated 7328. If that growth is projected, by the year 2016 one person in four on the face of the globe will be an Elvis impersonator." This is an example of______________.
Extrapolation is the forecasting of the future based on assumption that present or past trends will continue.
It also assumes the method used for estimating past trends will still be used in future.
For example forecasts of world population.
In this instance, there were 48 impersonators of Elvis Presley, presently it has increased to to 7,328. Estimating that in 2016 based on the present trend, that one of four people will be an Elvis Presley impersonator, is also an example Extrapolation.
