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Question
The following table shows the index of industrial production for the period from 1976 to 1985, using the year 1976 as the base year.
| Year | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 |
| Index | 0 | 2 | 3 | 3 | 2 | 4 | 5 | 6 | 7 | 10 |
Fit a trend line to the above data by graphical method.
Solution
Taking year on X-axis and index on Y-axis. We plot the points for indices corresponding to the years. Joining these points we get the graph of the given time series. We draw trend line as shown in the figure.
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RELATED QUESTIONS
The following data gives the production of bleaching powder (in '000 tons) for the years 1962 to 1972.
| Year | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 |
| Production | 0 | 0 | 1 | 1 | 4 | 2 | 4 | 9 | 7 | 10 | 8 |
Fit a trend line by graphical method to the above data.
Choose the correct alternative :
The first step in time series analysis is to _______.
Choose the correct alternative :
Time-series analysis is based on the assumption that _______.
Fill in the blank :
The graph of time series clearly shows _______of it is monotone.
