Statistical Time Series/Examples/Batch Process
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Example of Statistical Time Series
Consider a manufacturing plant which outputs a product at some variable rate.
Let the output generate a discrete time series, obtained by accumulation.
It is not possible to know exactly what the output will be at a particular timestamp.
It is necessary instead to identify what particular probability distribution is obeyed by the data.
Sources
- 1994: George E.P. Box, Gwilym M. Jenkins and Gregory C. Reinsel: Time Series Analysis: Forecasting and Control (3rd ed.) ... (previous) ... (next):
- Part $\text {I}$: Stochastic Models and their Forecasting:
- $2$: Autocorrelation Function and Spectrum of Stationary Processes:
- $2.1$ Autocorrelation Properties of Stationary Models:
- $2.1.1$ Time Series and Stochastic Processes: Deterministic and statistical time series
- $2.1$ Autocorrelation Properties of Stationary Models:
- $2$: Autocorrelation Function and Spectrum of Stationary Processes:
- Part $\text {I}$: Stochastic Models and their Forecasting: