Time series basics

In this chapter, we will cover some key concepts of time series that you need to know. You should build up an intuition of what a stationary time series is, and what autocorrelation is. White noise is a simplest time series process you can think of and the building block of ARIMA models. Here we try to give a short introduction to these concepts. Some of these have already been introduced in MET4 at NHH. So if you have taken that course, this may serve as a short repetition.

This chapter is split into the following pages:

• What is time series data
• Stationarity