In this paper we propose an ARMA time-series model for the wind speed at a single spatial location, and estimate it on in-sample data recorded in three different wind farm regions in New York state. The data have a three-hour granularity, but based on applications to financial wind derivatives...

We propose a spatial-temporal stochastic model for daily average surface temperature data. First, we build a model for a single spatial location, independently on the spatial information. The model includes trend, seasonality, and mean reversion, together with a seasonally dependent variance of...