Data Science Statistics
The Ljung-Box test is a statistical test used to determine whether there are significant autocorrelations in a time series data set, which can indicate non-stationarity or model inadequacy. By checking if the autocorrelations at multiple lags are different from zero, this test helps assess if a time series can be adequately modeled using approaches like ARIMA, which assumes that the residuals should be uncorrelated. This test is crucial in validating models that aim to capture underlying patterns in data over time.
congrats on reading the definition of Ljung-Box Test. now let's actually learn it.