About This Chapter
Time Series Data - Chapter Summary
These fun lessons introduce the features and applications of time series data. Topics include learning how to calculate and interpret seasonal indices. You'll also review the methods used to make forecasts by using time series models. Once this chapter has been completed, you should be able to:
- Identify some of the features of a time series plot
- Use moving means to numerically smooth time series data
- Explain what graphical smoothing of time series data results in
Studying can be fun when you use our mobile-friendly, flexible learning tools. These lessons outline all the important topics you need to know, and the multiple-choice quizzes help you know when you're ready to move on. If you need help, an instructor can assist you. You can study anytime you'd like on your mobile phone, computer or tablet.
1. Time Series Plots: Definition & Features
Time series plots contain data with respect to time. In this lesson, we will analyze what a time series plot is and learn how they are used to analyze data.
2. Numerical Smoothing of Time Series Data
We can use numerical and/or graphical smoothing of time series plots to see overall trends, where we may not be able to see trends otherwise. We implement averaging or a process of moving means to smooth a time plot.
3. Graphical Smoothing of Time Series Data
Time plots serve to provide a visual representation of data and can aid in visualizing the behavior of a data set. We address trending in a time plot, smoothing time plot data to better see trends that we might not see otherwise.
4. Interpreting & Calculating Seasonal Indices
Seasonal indices can be used to deseasonalize and, thereby, smooth time plot data. That means seasonal fluctuations or patterns can be removed from the data, and forecasts can be made with regard to future data values.
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Other chapters within the VCE Further Mathematics: Exam Prep & Study Guide course
- Population & Samples
- Categorical Data Representation
- Numerical Data Representation
- Data Distribution
- Correlation & Causation in Math
- Non-Causal Relationships in Statistics
- Linear Relationships
- Recursion & Financial Modeling
- Concepts of Financial Mathematics
- Matrices Overview
- Graphs & Networks
- Paths & Circuits
- Problem Solving With Networks
- Geometric Solids
- Measurement & Trigonometry
- Spherical Geometry
- Applications of Spherical Geometry
- Graphs & Relations
- Linear Programming Overview
- VCE Further Mathematics Flashcards