Time Series and Indices

Thomas Cleff
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Thomas Cleff: Pforzheim University

Chapter 6 in Exploratory Data Analysis in Business and Economics, 2014, pp 147-161 from Springer

Abstract: Abstract In the preceding chapter we used a variety of independent variables to predict dress sales. All the trait values for sales (dependent variable) and for catalogue image size (independent variable) were recorded over the same period of time. Studies like these are called cross-sectional analyses. When the data is measured at successive time intervals, it is called a time series analysis or a longitudinal study. This type of study requires a time series in which data for independent and dependent variables are observed for specific points of time (t = 1,…, n). In its simplest version, time is the only independent variable and is plotted on the x-axis. This kind of time series does nothing more than link variable data over different periods. Figure 6.1 shows an example with a graph of diesel fuel prices by year.

Keywords: Price Index; Price Change; Consumer Price Index; Price Relative; Base Period (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-3-319-01517-0_6

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