statsmodels is an open source Python module that offers functionality for various statistical operations, such as central values (mean, mode, and median), dispersion measures (standard deviation and variance), correlations, and hypothesis tests.
Let's install statsmodels using pip and run the following command:
pip3 install statsmodels
statsmodels provides the statsmodels.tsa submodule for time-series operations. statsmodels.tsa provides useful time-series methods and techniques, such as autoregression, autocorrelation, partial autocorrelation, moving averages, SimpleExpSmoothing, Holt's linear, Holt-Winters, ARMA, ARIMA, vector autoregressive (VAR) models, and lots of helper functions, which we will explore in the upcoming sections.
