1.1 Types of time series

1.

A time series recorded continuously in time is said to be continuous, for example an electrical signal or a voltage trace.

2.

A time series recorded only at specific times, usually equally spaced, is said to be discrete, for example a monthly interest rate, an annual crop yield or a daily closing price.

A discrete series may arise by sampling a continuous one at intervals (the temperature at noon each day) or by aggregating over intervals (the rainfall in each month). These notes deal with discrete series observed at equal intervals, written \(x_t\) for \(t = 1, \dots , n\).

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