Time series Flashcards
1
Q
trend
A
a long term or overall tendency for the data to generally increase or decrease over time.
2
Q
seasonality
A
a periodic movement in a time series that has a calendar-related period i.e. quarters, months, days of the week.
3
Q
cyclic patterns
A
long-term and irregular fluctuations over a non-specific time period.
4
Q
structural change
A
a sudden change in the pattern of a time series plot which changes the ultimate path of the plot.
5
Q
irregular/random fluctuations
A
unpredictable and short-term data movements.
6
Q
What does smoothing show us?
A
It can help show us an underlying trend in the data by removing the irregular fluctuations and seasonality.
