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Time Series Analysis and Random Processes

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Question 1:
Simulate a completely random process of length 48 with independent, normal values. Plot the time series plot. Does it look "random"? Repeat this exercise several times with a new simulation each time.

Question 2:
Simulate a completely random process of length 48 with independent, t-distributed values each with 5 degrees of freedom. Construct the time series plot. Does it look "random" and nonnormal? Repeat this exercise several times with a new simulation each time.

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Solution Summary

This solution answers questions regarding time series analysis. Completely random processes are simulated with independent, normal values and independent, t-distributed values.

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Solution:
First we are going to simulate random process of length 48 from normal distribution using statistical package R. The command used for this is
a = rnorm(48))
We can plot this time series using the command
plot (a) # This will give the scatter plot
plot.ts(a) # This will give the time series plot
The output ...

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