While forecasting Time Series, there can be two possibilities:
a)_ A strictly stationary series with no dependence among the values. Here we can model the residuals as white noise._
b) A series with significant dependence among values. In this case we need to use some statistical models like ARIMA to forecast the data.
How we can identify a stationary series with no dependence among the values .
How we should move ahead on modelling in that case. An explanation with example will be helpful.
Thanks in anticipation.