Time series analysis

Numerical methods that describe the course followed by a variable over time. When the historical data can be replicated by an equation, forecasts of the course of the variable can be estimated by the same equation. In its simplest form time series analysis can be performed by placing a line (straight or curved) through historical data points in the manner that minimizes the error between the line and the points. The value of some variables may depend on factors other than time. In time series analysis, regression analysis and simultaneous-equation modeling, the equations are determined by statistical relationships that existed in past times. In practice, The value of some variables may depend on factors other than time.