Time Series Homework Help
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A time series consists of numeric data points arranged sequentially in successive order. It is measured at consistent time interval. Data arranged irregularly do not form time series. Some of the uses of time series given by Time Series Homework Help are- weather forecasting, earthquake prediction, astronomy, communication engineering, signal processing, statistics, econometrics, mathematical finance, control engineering etc.
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Benefits and Applications of Time Series Analysis
Some of the benefits and applications of time series analysis given by Time series Homework Help are
• Spectral Analysis- It is also known as frequency domain. It main objective is to separate periodic changes in the components in a time series. For example, spotting cyclic change in the sales of a product or commodity.
• Descriptive Analysis- It uses graphs and other tools to determine the trend or pattern in a time series. This is also used to identify turning points, overall trends, cyclic patterns and outliers.
• Intervention Analysis- This is used to determine whether occurrence of an event can lead to a change in the time series. For example, effectiveness of the training program can be determined by checking the improvement in the performance level of the employee.
• Explanative Analysis- This is used to study the relationship or cross correlation between two time series and their dependence on each other.
• Forecasting- it is widely used in budgeting, forecasting etc depending on historical trends.
The biggest merit of Time series analysis is that it can be used to understand past as well as predict future.
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