1.3.Types of data There are broadly three types of data: 1.3.1.Time series data Time series data aredata that have been collected over a period of time on one or more variables.Have associated with them a particular frequency (regularity with which, the data are collected or recorded). A word on "As transactions occur' is necessary. Much financial data does not start its life as beingregularly spaced. Such recordings are very unlikely to be evenly distributed over time. Although there are a number of ways to deal with this issue, a common and simple approach is simply to select an appropriate frequency, and use as the observation for