Microsoft Office Tutorials and References
In Depth Information
Exhibit 3.17 Results of histogram analysis for old website views
Labels box is checked to include the title Bins ). The results of the analysis are
shown in Exhibit 3.17. It is now convenient to graph the histogram by selecting the
Insert ribbon and the Charts group. This is equivalent to the previously discussed
frequency distribution in Exhibit 3.10.
3.5 Analysis of Time Series Data—Forecasting/Data
Relationship Tools
We perform data analysis to answer questions and gain insight. So what are the
central questions we would like to ask about our time series data? Put yourself in
the position of a data analyst. Here is a list of possible questions you might want to
answer:
1. Do the data for a particular series display a repeating and systematic pattern over
time?
2. Does one series move with another in a predictable fashion?
3. Can we identify behavior in a series that can predict systematic behavior in
another series?
4. Can the behavior of one series be incorporated into a forecasting model that will
permit accurate prediction of the future behavior of another series?
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