Say I have a data series of N elements.
I want to create second series that represents a rough approximation of the first series with a reduced set of elements M.
Question 1: Is there a proper name for the general set of techniques used to accomplish this?
Question 2: Is there a specific name for the following technique or similar techniques?
1 - Divide N / M, which produces a number of elements per bucket B.
2 - Calculate mean for first B elements. Calculate mean for second set of B elements.. so on and so forth.