Introduction We begin with a simple definition of time series:
Time series is a series of data points indexed (or listed or graphed) in time order.
Therefore, the data is organized by relatively deterministic timestamps, and may, compared to random sample data, contain additional information that we can extract.
Let's import some libraries. First, we will need the statsmodels library, which has many statistical modeling functions, including time series. For R afficionados who had to move to Python, statsmodels will definitely look more familiar since it supports model definitions like 'Wage ~ Age + Education'.