Data science and big data analytics
One of the studies that have used time series analysis is that which was carrying out a meta-analysis of the minimum wage. This study was entitled; Time- Series Minimum Wage Studies: A Meta-Analysis by David Card and Alan Krueger. This study was a meta-analysis whose aim was to determine the effect that the minimum wage has, with the effect being on employment. Time series analysis was used, in this case, to determine the trend that the minimum wage had on employment over time.
The study was a meta-analysis type of study. The purpose of it was to summarize a set of related studies and, at the same time, evaluate the reliability of the findings of studies captured in the statistical literature in the two involved variables, which are minimum wage and employment. The findings to this study in relation to the two variables were that a reduction in employment of between one to three percent led to a ten percent increment in the minimum wage. In a nutshell, the minimum wage increases with a decrease in employment.. Don't use plagiarised sources.Get your custom essay just from $11/page
Based on the research-based knowledge, my evaluation on the role of time series analysis in the study outcomes is that it helped in determining the trend over time within a given range (Mills, 2019). For instance, it is indicated that the rate of minimum wage will increase up to 10%, and this is when the rate of employment reduces between 1% and 3%. For such a reduction to happen, time has to be involved.
Based on the research-based knowledge, my evaluation on the role of time series analysis in the study outcomes is that it helped in determining the trend over time within a given range (Mills, 2019). For instance, it is indicated that the rate of minimum wage will increase up to 10%, and this is when the rate of employment reduces between 1% and 3%. For such a reduction to happen, time has to be involved.
Based on the research-based knowledge, my evaluation on the role of time series analysis in the study outcomes is that it helped in determining the trend over time within a given range (Mills, 2019). For instance, it is indicated that the rate of minimum wage will increase up to 10%, and this is when the rate of employment reduces between 1% and 3%. For such a reduction to happen, time has to be involved.
Based on the research-based knowledge, my evaluation on the role of time series analysis in the study outcomes is that it helped in determining the trend over time within a given range (Mills, 2019). For instance, it is indicated that the rate of minimum wage will increase up to 10%, and this is when the rate of employment reduces between 1% and 3%. For such a reduction to happen, time has to be involved.
Reference
Mills, T. C. (2019). Applied time series analysis: A practical guide to modeling and forecasting.