Is the Series of Rainy/non-rainy Days a Bernoulli Trial Sequence?

The concept of dependent random variables finds an important application in so-called time series, which are models of how a random quantity varies in time. In the case when time is discrete or discretized, as for example happens when one considers variables with daily, monthly or annual values (daily close of the stock market, monthly average temperatures, annual sales, score of i baseball game, etc.), the time series is simply a discrete sequence of random variables Xi. An important issue in modeling such sequences is the probabilistic dependence among different variables.