Question

Mention any two of the necessary preliminary adjustments before analysing time series data.​

Answer 1

Filter based methods of seasonal adjustment are often known as X11 style methods. These are based on the ‘ratio to moving average’ procedure described in 1931 by Fredrick R. Macaulay, of the National Bureau of Economic Research in the US. The procedure consists of the following steps:

1) Estimate the trend by a moving average

2) Remove the trend leaving the seasonal and irregular components

3) Estimate the seasonal component using moving averages to smooth out the irregulars.

Answer 2

Answer:

Concept :

A time series is a group of observations gathered over time via repeated measurements. If you were to plot the points on a graph, time would always be one of the axes.A piece of data that is tracked over a period of time is referred to as a time series. An example of a metric would be the amount of inventory that was sold from one day to the next in a store.

Explanation:

• Since time is a component of everything that can be observed, time series data are present everywhere.
• Sensors and systems constantly output a relentless stream of time series data as our world becomes more instrumented.
• Numerous industries can use this data for a variety of purposes.
• Methods for Seasonal Adjustment in Time Series Analysis Utilize a moving average to gauge the trend.
• Remove the trend, leaving the irregular and seasonal elements.
• To smooth out the irregularities, estimate the seasonal component using moving averages.

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