Time series can be defined as a set of measurements of the certain variable of regular time intervals. The thing to be noted in this is that time acts as an independent variable for estimation. It is very much important to analyze and extract the inferences from the data i.e. where, t variables are the time function of Y target, Y=F(t). The application of the time series is where the decisions that involve factors of the uncertainty of the future including sales forecasting weather forecasting, inventory studies, GDP of developing countries, stock market, daily petrol price, etc.

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