ABSTRACT
Time series is “simply a list of numbers assumed to measure some process sequentially in time” (Stergiou et al. 2004). Mathematicians have a more formal definition, that is, a set or a sequence of observations, with each one recorded at specific times, or at least sequentially (Brockwell and Davis 2002; Box et al. 2008). Time series are created from multiple sources for research purposes to understand various behaviors. For example, social scientists could collect graduation rates, physiologists record heart rates, economists study consumer spending, and climatologists examine weather patterns. Basically, any time observations are taken repeatedly over time, from any source or behavior, a time series is created.
