The method of least squares is used on time-series data for:  

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SSC CGL Tier-II (JSO) 2022 Official Paper (Held On: 4 March 2023)
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  1. deseasonalising the data 
  2. obtaining the trend equation 
  3. exponentially smoothing a series 
  4. eliminating irregular movements 

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Option 2 : obtaining the trend equation 
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Key Points
  • The method of least squares is commonly employed in the analysis of time-series data to obtain the trend equation.
  • This method aims to find the best-fitting line that minimizes the sum of the squared differences between the observed data points and the corresponding values predicted by the trend equation.
  • By fitting a trend line to the time-series data, we can estimate and model the underlying trend or pattern present in the data, which helps in forecasting future values or understanding the overall direction of change. 
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