2.4 Time Series
A time series is a sequence of data that records an attribute at different times. Examples of time series are the daily prices of Microsoft stock during the last year, the daily dollar value of purchases of customers at Wal-Mart, and the monthly employment counts reported by the Bureau of Labor Statistics. A timeplot graphs a time series by showing the values in chronological order. The timeplot in Figure 2.2 from the Federal Reserve Bank of St. Louis shows the percentage unemployed in the United States.
Figure 2.2 Timeplot of the monthly unemployment rate in the United States.
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