Chapter 6: Statistical Estimation, Inference, and Prediction
In this chapter, we introduce four key statistical libraries in Python—statsmodels, pmdarima, fbprophet, and scikitlearn—by outlining key examples. These libraries are used to model time series and provide their forecast values, along with confidence intervals. In addition, we demonstrate how to use a classification model to predict percentage changes of a time series.
For this, we are going to cover the following use cases:
- Introduction to statsmodels
- Using a Seasonal Auto-Regressive Integrated Moving Average with eXogenous factors (SARIMAX) time-series model with pmdarima
- Time series forecasting with Facebook's Prophet library
- Introduction to scikit-learn regression and classification
