Flashcards in Chapter 4 - Statistical Techniques Deck (7)
What is the time series analysis (average annual change) formula?
Last figure - first figure / no of changes (NOT YEARS)
What is the purpose of time series analysis?
To analysis past and present numerical data trends over a period.
what is the linear regression formula?
Y = M x X + C
Y - forecast
M - increase
X - no of time changes
C - starting value
Also shown as Y = A + B x X
What’s the definition of long term cycles?
Slow moving variations that may be caused by economic cycles or social trends.
What is the formula to seasonal variations?
Y = T + S
Y - actual data
T - trend
S - seasonal variation
What does deseasonalised data mean?
Data from which the seasonal variations (trend) have been removed.