In this session, you learnt about the following four Auto Regressive models.
- ARMA
This model exhibits the characteristics of an AR(p) and/or an MA(q) process. Later you studied its parameters and examples.
- ARIMA
This method models a time series with trend. It has an embedded parameter that differences and removes the trend and later integrates it into the original series. Later you learnt to build this model on Airline Passenger data.
- SARIMA
SARIMA brings all the features of an ARIMA model with an extra feature, seasonality.
- SARIMAX
SARIMAX models an External variable along with the non-seasonal and seasonal components.
You also studied how to choose the right time series model based on different situations for the data used to solve different business problems.