Statistical domain approaches in forecasting techniques

Abstract

Time series analysis has been created by four types of experts namely Engineers and Physical Scientists; Economists; Applied Statisticians and Econometricians; and Mathematical Statisticians and Probabilists Time series analysis was divided into two approaches namely Frequency Domain and Time Domain approaches. For Engineers and Physical Scientists, it is natural to regard a time series as made up of oscillations at different frequencies. This gives time domain analysis. There is duality between the frequency domain and time domain approaches to the time series analysis.