Time Series Analysis

Abstract

This paper introduces community practitioners to important concepts and issues related to time series analysis. The basic components of a time series-trend, cycle, seasonal variation, and stochastic-are described, together with the related issues of sampling rate, autocorrelation, length, and missing observations. Then, a community practice example demonstrates the use of a basic two-step analytical technique. An understanding of these concepts and techniques can encourage practitioners to conduct preliminary analyses of time series, and help them evaluate the need for additional, more complex procedures.