1332.0.55.002 - Statistical Language!, 2008

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 27/06/2008 First Issue

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Contents >> Time Series >> Why are Trend Time-series Created?

WHY ARE TREND TIME-SERIES CREATED?

Trend time-series are created in order to view the long-term trend. Irregular components can be removed in a number of ways, for example by using weighted averages or by applying a filter to the data.

Example of a Trend Time -series:

Total Overtime for Employees of 'The Widget Company' 2006-2007, Trend
Graph: graph time series 3

Time series arrow 3
Diagram: time series

The June 2007 figure has been adjusted by the greatest amount because it is an irregular occurrence for a high amount of overtime to be worked during this month. For example, this may represent a one off demand for the installation of new factory equipment. In addition, the other months have been smoothed to reveal the underlying trends.