Statistics Chapter 5

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9 Terms

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Time series

A set of observations taken over a period of time.

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Two kinds of variation in a time series

The general trend (shown by the trend line) and seasonal variations (a pattern that repeats).

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Seasonal variation

Variation following a regular time period, like the seasons of the year or the days of the week.

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Moving average

An average worked out for a given number of successive observations.

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Why use moving averages?

They smooth out the ups and downs so the trend is easier to see and a trend line is easier to draw.

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