Mean-range plot, Advanced Statistics

Mean-range plot is the graphical tool or device useful in selecting a transformation in the time series analysis. The range is plotted against the mean for each of the seasonal period, and a appropriate transformation chosen as per the appearance of the plot. If the range seems to be independent of the mean, for instance, no transformation is needed. If the plot shows random scatter about the straight line then a logarithmic transformation is suitable.

Posted Date: 7/30/2012 3:28:18 AM | Location : United States

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