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What are time series models? Why do we need them when we have less complicated regression models?

What can happen if a traditional regression model is used on data that has autocorrelation?

What can happen if a traditional regression model is used on data that has autocorrelation?

Why Do We Need Time Series Models? I

Why can't standard regression models be used effectively for data points where current values are influenced by past values?

Why can't standard regression models be used effectively for data points where current values are influenced by past values?

Why Do We Need Time Series Models? II

Why Do We Need Time Series Models?

Suppose there exists a new airline named Jetco that flies domestically across North America. Jetco recently had a study commissioned that tested the boarding time of every airline, and it came out that Jetco had the fastest average boarding times of any airline.

What factors could have biased this result, and what would you look into?

What could potentially bias the average boarding time in favor of an airline that only flies domestically?

What could potentially bias the average boarding time in favor of an airline that only flies domestically?

Boarding Times Bias

A new airline came out as the fastest average boarding times compared to other airlines.  What factors could have biased this result and what would you look into?

Let’s say that your company is running a standard control and variant AB test on a feature to increase conversion rates on the landing page. The PM checks the results and finds a .04 p-value.

How would you assess the validity of the result?

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