Statistics 1 Marks Each

The analysis of time series is done in the following two stages.

• To identify the various factors affecting the variable of the time series.
• The segregate these factors and determine the extent of effect of each factor on the given variable.

Trend is a important component of any time series.

Prices of different commodities, the population of a country, series showing accidents etc. are the examples of time series.

The analysis of time series useful for traders, scientists, sociologists, geologists, astronomers etc.

The methods for measuring trend are:
1. Graphical Method
2. Method of Least Squares
3. Method of Moving Averages

The study of various components that influence the variations in the values of a time series and identifying their effects is called analysis of time series.