Question

What is a time- series plot? In your answer, make reference to the x-axis. Also, give a specific example of what kind of data you could plot in a time- series plot.

Answer 1

Time series plots contain data with respect to time.

On the x-axis we plot the time-increments/date and on the y-axis we plot the corresponding value that we are measuring.

Time series plots are very useful is illustrating how the value of the thing we're interested in measuring changes over time.

For Example: Given, below is a time series plot of stock prices. On Y-axis, Stock Price is plotted while on x-axis we have date.