What Is a Stable Time Series, and What Forecasting Methods

question 56

Essay

What is a stable time series, and what forecasting methods are appropriate for one?​

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, showing how much each value in the set deviates from the mean.

Toll Station

A point at which drivers are charged a fee to use a bridge, road, or tunnel.

Standard Deviation

A metric showing the extent of deviation or scatter of data points, highlighting the distance of these points from the central value.

Probability

The likelihood or chance of a particular event happening, often expressed as a number between 0 and 1.