13.1.2 Time-Series A time-series may be formally defined as A set of observations made on a particular variable at equidistant time intervals Some examples of time-series The sales data used in the two examples above The number of people recorded as unemployed at the end of each month The daily closing price for a company shares quoted by London Stock Exchange The temperature of a hospital patient recorded on an hourly basis Measure of the accuracy of the forecast13.1.2 Time-Series • A time-series may be formally defined as: – A set of observations made on a particular variable at equidistant time intervals. • Some examples of time-series: – The sales data used in the two examples above. – The number of people recorded as unemployed at the end of each month. – The daily closing price for a company shares quoted by London Stock Exchange – The temperature of a hospital patient recorded on an hourly basis. • Measure of the accuracy of the forecast