A time-series data shows information about the same subject or element of a sample or population for different periods of time.
The information in the table below is not based on real statistical data, but it can help us understand what we mean by time-series data.
The table below shows time-series data for the following two reasons:
First, you can see that the information is about the same subject that is numbers of cars rented by Alamo.
Second, the information is given for different time period. From year 2000 to year 2004.
Notice that a time-series data could also be compiled by using month as a time frame instead of year.
For instance, you could compile information from January to December.
In summary, a set of data is a time-series data whenever the following two conditions are met.
- The information is about the same subject
- The information is for different time period
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