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Time series are particularly useful to track variables such as revenues, costs, and profits over time. Time series models help evaluate performance and make predictions. Consider the following and respond in a minimum of 175 words:
Year Gross Federal Debt ($millions)
1945 260,123
1950 256,853
1955 274,366
1960 290,525
1965 322,318
1970 380,921
1975 541,925
1980 909,050
1985 1,817,521
1990 3,206,564
1995 4,921,005
2000 5,686,338
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