Data Science - Time Series Forecasting with Facebook Prophet in Python - Prophet: Multiplicative Seasonality, Outliers,

The video tutorial covers the use of the Profit library for time series forecasting. It begins with setting up the environment and preparing the data. The initial model is built with additive seasonality, and its limitations are discussed. The tutorial then explores multiplicative seasonality and log transformation to improve model accuracy. Finally, it addresses handling outliers by removing them to enhance prediction confidence.

What are the key features explored in the new notebook?

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How does the Rosman data set differ from the data set used in the new notebook?

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What is the significance of renaming the passengers column to 'Y'?

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What does the 'fit' function do in the context of the profit model?

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Explain the impact of using additive seasonality in the model.

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What changes occur when switching from additive to multiplicative seasonality?

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What observations can be made about the seasonal components after applying the log transformation?

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How do outliers affect the prediction intervals in the model?

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What method is recommended for dealing with outliers in the data?

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Describe the process of creating a new data frame without outliers.

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