Could be explain autocorrelation? What is its application in daily business?
“Autocorrelation is the cross-correlation of a signal with itself. Informally, it is the similarity between observations as a function of the time separation between them. It is a mathematical tool for finding repeating patterns, such as the presence of a periodic signal which has been buried under noise, or identifying the missing fundamental frequency in a signal implied by its harmonic frequencies. It is often used in signal processing for analyzing functions or series of values, such as time domain signals.” [lifted from the Wilkipedia article so do NOT turn this in as your own work. That is plagiarism, Amigo]. It is used in scientific measurement. Obviously you want to auto correlate scientific results to ensure accuracy – I suppose that is a business application. Think “due diligence.” Would you pay for a scientific study of whatever you are buying or selling without a high degree of assurance that the results are accurate as reported?
