Time Series Forecasting: Core Concepts and Definitions

Abstract This chapter will present the main definitions and concepts for time series forecasting. It begins by introducing time series before leading into the general form and definitions of a time series forecast. The following sections will lay the foundations for much of the tools, models and concepts in the later chapters. This chapter will rely on a basic understanding of statistical concepts which will be assumed. Chapter 3 contains a crash course in some of the important elements of statistics and probability and will be referred to throughout.