Time Series Analysis | Chapter 16
9 videos • 5,305 views • by Focus Creators #MuhammadUsman #Statistics #OnlineClasses #StatisticsTutorials #EasyStatistics #QualityEducation #MuhammadUsmanStatistician #ICS #BS #BBA #BSCS #BSIT #MCOM #KnowledgeIsPower #QualityEducation .............................................................................................................................................. Define time series. A sequence of observations recorded in accordance with their time of occurrence is called a time series. Define the term signal. Signal is a systematic component of time series. Define the term noise. Noise is an unsystematic component of time series. Question: Define Secular trend. Answer : A general Tendency to increase or decrease over a long period of time is called secular trend. Question: Define Sesional Variations. Answer : Seasonal variations are short term and recurring movements. Question : Define Cyclical Fluctuations. Answer : These are long term upward and downward movements about a trend. Question : Define trough. Answer : The lowest point relative to the rest of points is called trough. Question : Define expansion. Answer : The phase where cycle starts to rise is called expention. Question : Define contraction. Answer : The phase where cycle turns to downward. Question : Define peak. Answer : The heigest point relative to the rest of points in a cycle is called peak. Question : Define irregular movements. Answer : These are unpredictable changes due to random events. Question: Define historigram. Answer: The graph of time series is called historigram. Question: Differentiate between histogram and historigram. Answer: Histogram is used to present frequency distribution. Historigram is used to present time series. Question: Define analysis of time series? Answer: It is the decomposition of a time series into its different components for their separate study. Question: What is the purpose of analysis a time series? Answer: The study of time series is mainly required for prediction and forecasting. Question: What do you mean by smoothing a time series? Answer: The process of elimination of unwanted fluctuations in a time series Question: Define the method of semi average for estimation of Secular trend. Answer: In this method, we divide the time period into two halves and then compute the averages of these two halves. Then we fit a straight line to data using these averages. Question: Define method of freehand curve for estimation of the Secular trend. Answer: In this method, we first draw an historigram and then draw a curve through the hostrigram that minimizes the sum of the square of residuals least. Question: Define the method of least squares for estimation of the Secular trend. Answer: According to the least-squares principle the sum of squares of residuals should be least. Question: What is criteria for better fitted trend. Answer: A trend is said to be a better fitted trend for which the sum of squares of residuals is least. .............................................................................................................................................. #TimeSeries #AnalysisOfTimeSeries #SmoothingOfTimeSeries #PurposeOfAnalysisOfTimeSeries #GraphicMethod #MathameticalMethod #seculartrend #seasonalvariations #cyclicalfluctuations #irregularmovements #components #componentsoftimeseries #basiccomponents #TimeSeries #Signal #Noise #ChoronologicalClassification #Temporal #ICSPart2 #Definitions #Chapter16 #MethodsOfEstimationOfSecularTrend #FreeHandCurveMethod #SemiAveragesMethod #MovingAveragesMethod #LeastSquaresMethod #BetterFittedTrend ..............................................................................................................................................