Difference Random Sample versus Time Series
Jaap de Jonge, Management Consultant, Netherlands
As far as I understand the basic difference is that:
- A time series is a sequence of data points, measured typically at successive time instants (per second, minute, hour, day, week, month, year). So time series data have a natural temporal ordering
- A random sample has no natural ordering
of the observations. It is a collection of data without any order, be it in time or any other. It is randomly collected data.