Lesson 2: Pipeline Essentials Flashcards

1
Q

What is the difference between time series data and transactional data?

A

Time series data are equally spaced with respect to an index, transactional data are not.

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2
Q

What is noise in the data?

A

Noise is a pattern in the data that is not systematic and therefore not replicable

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3
Q

What is a white noise series?

A

A white noise series is a series of independently, identically distributed random variables

(a time series consisting only of noise)

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4
Q
A
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5
Q

What is autocorrelation?

A

a measure of association between successive values of a time series

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6
Q
A

Series values immediately preceding current values

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7
Q

What is the correlation between the current value and the first lag called?

A

first-order autocorrelation

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8
Q

What are signs a series contains autocorrelation?

A
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9
Q

What does the signal part of the irregular component of the series consist of?

A

autocorrelation

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10
Q

What is level in a time series?

A

the nonzero value of the series at a particular point in time

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11
Q

What is a trend in a time series?

A

Trend is the long-term pattern of the mean of the series

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12
Q

What is seasonality in a time series?

A

predictable deviations of the series patterns from the trend component

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13
Q

What is the difference between seasonality and cycle in a time series?

A

Seasonality refers to a regular, repeating cycle, whereas cycle is more general

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14
Q

What are exogenous effects are also referred to as?

A

explanatory effects

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15
Q

What is an exogenous effect?

A

The effect of other series, external to the one of interest, is often referred to as an exogenous effect.

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