Question

2.
What is meant by a time series? What are the various components of time series?
Why do you need to eliminate seasonality from time series data?​

Answer 1

Answer:

time series is a sequence of numerical data points in successive order. In investing, a time series tracks the movement of the chosen data points, such as a security's price, over a specified period of time with data points recorded at regular intervals.

Answer 2

Explanation:

1. These four components are: Secular trend, which describe the movement along the term; Seasonal variations, which represent seasonal changes; Cyclical fluctuations, which correspond to periodical but not seasonal variations; Irregular variations, which are other nonrandom sources of variations of series.
2. Clearer Signal: Identifying and removing the seasonal component from the time series can result in a clearer relationship between input and output variables. More Information: Additional information about the seasonal component of the time series can provide new information to improve model performance.

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