Analysis of Time Series
Abstract
Time series is a series of numerical data, which have been recorded at different intervals of time. It is a record of changes recorded in variables over a period of time, the study of which throws light on the economic behavior of a certain variable. It has an important and significant place in business and economics. In this chapter we discuss the components of time series and calculation of trend values by different methods.
Keywords
Components of time series; free-hand method; moving average method; semiaverage method; least square method
12.1 Introduction
There are many factors that change with the passage of time. For example, consumer price index, rate of inflation, the yearly demands of a commodity, ...
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