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A time series is nothing more than data measured over time. For example, you could track the Dow Jones Industrial Average from day to day (or even minute by minute!). In this post, we’ll find out how to analyze the components of time series data. For a quick overview of the topic, you might want […]
What is a time series? How do you make a forecast? In this short post we’ll talk about the components of time series and forecasting. Don’t worry; even though this topic can seem complex at first, we’ll just keep it to the basics for now. Time Series Definitions A times series is a set of […]
One of my favorite things to say to my students is “Adults look for solutions, not excuses.” Well, in statistics, we often use the error of a particular method as an excuse for why our model is different from the data. But there is a way to explain the error (a solution, if you will). […]