Time Series - Part 1 | Statistics | Business Maths
Time Series
A data which is collected on a variable/s at different time periods
(hours, days, months, years etc.), such a data is called time series data.
Statistical data = arranged = presented in a
chronological order (over a period of time)
Upward tendency = shown in Economic,
Business and Commerce
Downward tendency =
Share prices, death, birth rate etc.
Components of Time Series
Secular Trend
Seasonal variations
Cyclical variations
Random or irregular variations
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