Question

What is time series? What are its main components?
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Answer 1

Answer:

Time series data are a collection of ordered observations recorded at a specific time, for instance, hours, months, or years.

The various reasons or the forces which affect the values of an observation in a time series are the components of a time series. The four categories of the components of time series are

1 Trend

2 Seasonal Variations

3 Cyclic Variations

4 Random or Irregular movements