Which of the following best describes a time series?
A)A time series is a set of measurements on a variable collected at the same time.
B)A time series is a set of measurements on a variable taken over some time period in sequential order.
C)A time series is a model that attempts to analyze the relationship between a dependent variable and one or more independent variables.
D)A time series is a model that attempts to forecast the future value of a variable.

Question

Quizplus · Accepted Answer

A time series is a set of measurements on a variable taken over some time period in sequential order. It is used to analyze trends, seasonality, and other patterns in the data to make forecasts for future values.

Which of the Following Best Describes a Time Series