Time Series Data (VCE SSCE General Mathematics): Flashcards
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Time series data definition
Time series data definition
Data collected at regular intervals over time
Explanatory variable in time series
Explanatory variable in time series
Time (always)
Time series plot: which axis for time?
Time series plot: which axis for time?
Horizontal axis
Six main features of time series
Six main features of time series
Trend, cycles, seasonality, change, outliers, irregular
Trend in time series
Trend in time series
Long-term upward or downward movement
Cycles in time series
Cycles in time series
Recurring patterns lasting more than one year
Seasonality in time series
Seasonality in time series
Recurring patterns within one year or less
Structural change in time series
Structural change in time series
Sudden shift in the established pattern
Outliers in time series
Outliers in time series
Individual values that stand out from general pattern
Irregular fluctuations characteristic
Irregular fluctuations characteristic
Always present in real-world time series