Time Series Graphs Flashcards

All 5 cards in this deck

What is a time series graph?

A line graph of values recorded at successive points in time, with the plotted points joined by straight lines.

On a time series graph, which variable goes on the horizontal axis?

Time.

What does the trend of a time series mean?

The general direction the values move in over time (upward, downward or steady), ignoring short-term ups and downs.

What are seasonal variations in a time series?

A pattern of ups and downs that repeats at regular time intervals, e.g. every winter.

True or false? Continuing a time series graph beyond the last plotted point gives a reliable prediction.

False. It assumes the trend continues, so predictions become less reliable the further ahead you go.