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TIME SERIES — Statistics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceStatisticsTIME SERIES2 Marks
Question
Define time series.
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Answer

A time series is a set of observations taken at specified time periods.
  • The time is taken as an independent variable in the time series which will be denoted by $t$ and the dependent variable associated with it will be denoted by $y_t$.
  • Thus, we shall represent the time series for different units of time as follows :
  • Time $t\ 1\ 2\ 3 ....... n$
  • Variable $y_t ~y_1 ~y_2 ~y_3 \ldots \ldots . . y_n$

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