IPA: /ˌɪntəˈpəʊleɪʃən/
KK: /ˌɪntərpəˈleɪʃən/
The method of estimating values between two known values based on their surrounding data points.
The scientist used interpolation to predict the temperature at noon based on the morning and afternoon readings.
Interpolation is formed from "inter-" (meaning between) and "polare" (meaning to make smooth or to polish). The word describes the process of estimating values between two known values, effectively smoothing out the gaps between them.
Think of values being 'smooothed out' ('polare') 'between' ('inter-') known points — that's what interpolation means.