I'm a beginner in data analysis field and I wanna try to predict time series data using ARIMA model but I still don't understand some of the concept.
I've read some papers about ARIMA and this model -> ARIMA(p,d,q) seems to be the general model.
And this equation seems to be the general forecasting equation:
ŷt = μ + ϕ1 yt-1 +…+ ϕp yt-p - θ1et-1 -…- θqet-q
What I want to ask is, what is p, d and q? And how do I fit them in the above equation?
For example, if I want to predict stock market and have data like this:
Price Open High Low 5,900.85 5,855.08 5,907.44 5,851.70 5,841.05 5,860.55 5,866.61 5,839.59 5,863.03 5,872.59 5,873.03 5,841.02 5,863.96 5,897.01 5,904.95 5,859.85 5,894.61 5,910.16 5,918.09 5,882.94
Which attribute is p, d and q and how do I use those data in above equation?