U5 - Time series Flashcards
1
Q
Why are some time series graphs plotted with a dashed line?
A
Because the values between the plotted points have no meaning
2
Q
What is a general trend?
A
The way that the data changes over time
3
Q
What does a trend line show?
A
The general trend of the data
4
Q
3 types of trend line
A
- Rising trend
- Falling trend
- Level trend
5
Q
How can you plot a trend line by eye?
A
Place the line roughly half way between the highest and lowest point for each year
6
Q
What is seasonal variation?
A
Seasonal variation is variation in a time series following a regular time period, e.g. days of the week
