Time Series

Time series data is a variable measured over time at regular intervals — and this standard (AS91580) is about pulling it apart into its trend and seasonal pattern, then using them to forecast. You make a time series plot, describe it, smooth out the season with a moving average to reveal the trend, find the seasonal effect of each season, and combine the two into a forecast. You also need to describe and interpret in context and recognise that a forecast is an extrapolation with limits.