Best Time series Assignment Help Service
A Time series is a sequence of numerical data points graphed in time order. It can be taken on any variable that change over time. It is a sequence of discrete-time data. Counts of sunspots, heights of ocean tides are some examples of time series. Time series are plotted via line charts. They are used in pattern recognition, statistics, weather forecasting, mathematical finance, earthquake prediction, astronomy, communication engineering, signal processing etc.Time Series Assignment Help can be used for details regarding Time Series.
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Time Series and Its Components described by Time Series Assignment Help
There are two main goals of time series analysis- Identifying the nature of the observed results and forecasting. Both of these goals require the identification of the time series data. After the establishment of the pattern it is integrated and interpreted with other data.
The factors that are responsible to bring about changes in a time series are called the components of time series. The components classified in Time Series Assignment Help are:
1.General Trend: It is the main component of a time series. It results from long term effect of political, social and economic factors. This trend may be linear or non-linear. This type of tendency exists for a long period of time. It may show the growth or decline of a time series over a long period of time. Examples are Increase in prices, Increase in the need of rice, increase in literacy rates, increase in population, etc.
2.Seasonal Trend: It results for a short term due to seasonal factors. The short term is considered as a period in which changes occur in a time series with variation in weather or festivals. The changes which repeat themselves within a fixed period, are also called seasonal trend. For example, it is observed that the usage of umbrella increases in rainy season and hence sales of an umbrella dealer would be higher in rainy season and low in other months of the year. Similarly sales of ice-cream, cold-drinks are subjected to large variation in winter season and summer season. When the series is provided biannually, quarterly, or monthly these types of variation are isolated.
3.Cyclic Movements: The long term oscillation occurring in a time series is referred as cyclic movements. It is mostly observed in economic data. The period of these oscillation ranges from five to twelve years or more. It is a non-seasonal component which varies in recognizable cycle. They are periodic in nature and repeat themselves like business cycle.
4.Irregular Fluctuations: It is a component of time series which cannot be explained by general, seasonal or cyclic movements. Because of this fact these variations are sometimes called random component. These variations are unpredictable, for example, flood, earthquake, war, drought, accident due to failure of brake, rise in prices of food due to tsunami, etc.
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