Time Series Analysis: Simple and Log-linear Trend Models

Simple Time Series Models

This is basic trend modeling.

A simple trend model can be expressed as follows:

\tilde{y}_t = b_0 + b_1 t + \varepsilon_t

$b_0$ = the y-intercept; where t = 0.
$b_1$ = the slope coefficient of the time trend.
t = the time period.
$\tilde{y}_t$ = the estimated value for time t based on the model.
$\varepsilon_t$ = the random error of the time trend.

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