ABSTRACT
The time series analysis is normally used to generate a forecast the future values of the series. But, these techniques are also used to abstract the generalities within the series, hence facilitate the replication of the entire profile, reflecting only the main characteristics of the profile. The behaviour of many phenomena can be explained by a time series. Some like the Sinusoidal waves are deterministic and some like construction project expenditure patterns are stochastic, so the periodic values have a probability distribution which is only partly conditioned by the previous values.
