Time Series for Actuaries
INTRODUTION OF TIME SERIES A time series is just a collection of data points that occur in a logical order across time. On the other hand, cross-sectional data represents a single point in time. A time-series graph shows the evolution of a set of data points over time, such as the price of an asset, with data points recorded at regular intervals. There is no need that the data be gathered for a specific period of time, allowing the data to be collected in a fashion that delivers the information that the investor or analyst investigating the activity requires. Time-series data may be used to anticipate or predict future data based on past data. Aim Of Time Series Describe the data Fit a model Forecast future values Look for connection with other time series Decide if process is out of control Time Series Analysis Time-series analysis is a technique for examining a set of data points across time. Instead of randomly recording data points, time-series analyzers record data points at regul