Which of the following states the objective of time series analysis?

Question

a. To analyze the cause-and-effect relationship of a dependent variable with a time series and one or more other variables.

b. To use present variable values to study what should have been the ideal past values.

c. To uncover a pattern in a time series and then extrapolate the pattern into the future.

d. To predict the values of a time series based on one or more other variables

Answer 1

The correct answer is option C (to uncover a pattern in a pattern in a time series and then extrapolate the pattern into the future). The basic definition itself says that time series analysis is to understand the patterns in time-based data and forecast the patterns for the future.

If you want to learn Time series in R, you can sign up for these data scientist by Intellipaat.

You can watch this video to understand the time series analysis in a detailed way.