Question

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How are a time series and a cross-section of a data set similar?

Answer 1

Ans:

Time series data is a set of observations collected at usually discrete and equally spaced time intervals.For example,The daily closing price of a certain stock recorded over las six weeks.

Cross sectional data are observations that come from different indviduals or groups at a single point in time.If we considered the closing prices of a grroup of 20 different stocks on a specific day,this will be example of cross-sectional data.

Similarity is that they both are referred with respect to time.