Quantitative analysis is using data from your business to determine its success. It helps you look at data to determine what needs to be changed in the company or what is working for the company. You can use quantitative analysis to make purchasing decisions, marketing decisions, and even sales decisions
1. Define a time series.
Ans: According to patterns on. : a Time Series consists of statistical data which are collected, recorded or observed over successive increments.
2. What us time series?
Ans: Statistical data which are collated, observed or recorded at successive intervals of time are generally referred to as time series.
3. Name the Components of time series.
ANS: There are four components of a time series.
These components are as follows.
(I) Secular trends or long term movements.
(II) Seasonal Variations
4. What are the seasonal Variations?
ANS: Seasonal Variations refer to such movements ina time series which are due to forces which are rhythmic in nature and which repeat themselves periodically every year
5. What is Irregular Variation?
ANS: Irregular variations or random variations constitute one of four components of a time series. They correspond to the movements that appear irregularly and generally during short periods. Irregular variations do not follow a particular model and are not predictable
6. What are the uses of analysis of time series?
The uses of analysis of time series are given below
(i) To Study The factors that influence the changes in economic activities
(ii) To predict the future variations
(iii) To Understands the past behaviors of data
(iv) Helps in evaluating current accomplishment
INTERPOLATION AND EXTRAPOLATION And SAMPLING AND SAMPLING DISTRIBUTION