Expectation
Prediction
noun, verbal noun, の adjective
If you consider the future beforehand and imagine how things will turn out (based on some facts), you will have an informed expectation or prediction for it.
予想 refers to an expectation or prediction about the future based on current information or trends, like predicting which candidate will win an upcoming election or estimating future economic conditions.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.
わたしは未来を予想できるんです。
I can predict the future.
今日もコウイチはちこくするであろうというわたしの予想は見事に外れてしまった。
My prediction that Koichi would be late again today turned out to be completely wrong.
予想外の出来事が生じているため、今日は氷の舟で溶岩のプールを渡ることはできません。
Due to unforeseen circumstances, the ice boat will not be traveling across the lava pool today.