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Time Series vs. Cross Sectional Data
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In this video we will distinguish between time series and cross-sectional data. Moreover, we will discuss why working with time series can be a bit tricky.
Time series is a sequence of information collected at discrete and equally spaced intervals of time. An example for time series is a historical series of monthly stock returns. The value of time series can be pretty much anything measurable that depends on time in some way, like prices, humidity, or number of people. As long as the values we record are unambiguous, any medium can be measured with time-series.
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