Time Series Model Notes: Definitions & Explanations PDF | Download eBooks
Study Time Series Model lecture notes PDF with total quality management definitions and explanation to study “What is Time-Series Model?”. Study time series model explanation with TQM terms to review total quality management course for online MBA programs.
Time Series Model Definition:
Time series model is the correlative structure with an appropriate use that model to remove the autocorrelation from the data, and apply control charts to the residuals.
Introduction to Statistical Quality Control by Douglas C. Montgomery
Time Series Model Notes:
Although control charts are the most common quality control tools, yet sometimes, due to autocorrelation in the process data needs different types of techniques to be used to identify and reduce variations in the process. Model-based approaches can be used for this purpose. One of the model based approach is named as time-series model. Time series models can be used to remove the autocorrelation in the process data. The control charts are then applied to the residuals. Time series models can be of different types. These include first order and second order autoregressive models, first order mixed model, first order integrated moving average model etc.
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