Forecasting with Time Series Data and Distributed Lag Models

In Chapter 1 a distinction was made between cross-sectional data and time series data. The latter is the focus of this chapter. Recall that time series data are data that have been collected for some series (variable) for each of several successive time periods. A nation’s annual GNP for the years 1999 through 2012 is an example. So are the data for a factory’s output for each of the past several years, months, or weeks.