A time series is a series of data points arranged chronologically. Most commonly, the time points are equally spaced. A few examples are the passenger loads of an airline recorded each month for the past two years or the price of an instrument in the share market recorded each day for the last year. The primary aim of time-series analysis is to predict the future value of a parameter based on its past data.
Classification of Variation
Traditionally time-series analysis divides the variation into three major components, namely, trends, seasonal variations, and ...
