Statistics for Business

Statistics
Tutor: None Selected Time limit: 1 Day

What type of data is best described using a Time Series? Think of an example from your day to day experience.

Aug 19th, 2015

Thank you for the opportunity to help you with your question!

  Time series is a sequence of data consisting of successive measurements made over a time interval. Examples of time series are ocean tides.Time series are very plotted via line chart. 

Time series analysis comprises methods for analyzing time series data in order to extract meaningful statistics and other characteristics of the data. Time series forecasting is the use of a model to predict future values based on previously observed values. While regression analysis is often employed in such a way as to test theories that the current values of one or more independent time series affect the current value of another time series, this type of analysis of time series is not called "time series analysis", which focuses on comparing values of a single time series or multiple dependent time series at different points in time.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Aug 19th, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Aug 19th, 2015
...
Aug 19th, 2015
Dec 4th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer