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Question
Define Time series
Solution
A Time-Series consists of data arranged chronologically – Croxton and Cowden
When quantitative data are arranged in the order of their occurrence, the resulting series is called the Time Series – Wessel and Wallet.
A time series consists of a set of observations arranged in chronological order (either ascending or descending).
Times Series has an important objective to identify the variations and try to eliminate the variations and also helps us to estimate or predict the future values.
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