Time series analysis is the most difficult analysis technique presented in this book. One may argue that it does not belong in an introductory book. It is true that this is a challenging topic. However, one may also argue that an introductory awareness of a difficult topic is better than perfect ignorance of it. Time series analysis is a technique designed to look at chronologically ordered data that may form cycles over time. Key topics covered in this chapter include the following:
Analyzing time series data with linear regression
Introducing key elements of time series analysis
Building ARIMA time series models
Time series analysis is an upper-level college statistics course. It is also a demanding topic taught in econometrics. This chapter provides you with an understanding of a useful but difficult analysis technique. It provides a combination of theoretical learning and hands-on practice. The goal is to provide you with a basic understanding of working with...