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An exposure-averaged light curve models what a finite exposure measures. For a constant response during an exposure of duration $\Delta t_i>0$, centred at $t_i$, the expected mean brightness isThe integral has units of brightness times time; division restores the units of $F$. Observed points fluctuate around this mean. A response that changes during the exposure must instead be included inside the integral, as in the first figure's known drift. Exposure duration and the interval between samples are distinct: there may be dead time or missing exposures.

A short dip can be blurred even with perfectly noiseless measurements. For a toy rectangular dip of fractional depth $\delta$ and duration $T<\Delta t$, an exposure containing the whole dip has fractional depth $\delta T/\Delta t$: averaging hides part of its depth. A $1\%$ dip lasting ten minutes therefore appears only $0.333\%$ deep in a thirty-minute exposure. No interpolation recovers its shape from that single number without additional assumptions. Forward modelling should average the predicted light curve over each exposure before comparing it with the measurements. Kipping's analysis of exoplanet transit photometry demonstrates how ignoring this averaging biases inferred system parameters. ^[ref].

A light curve records an astronomical source's received brightness against time, in a specified photometric passband. Its measured form is a time series of timestamps, brightness estimates, and uncertainties; a smooth $F(t)$ is a model of that record. Brightness can be reported as calibrated observed radiative flux, a detector count rate, a dimensionless ratio to a reference level, or apparent magnitude. These quantities require different units and calibration conventions. A light curve concerns what reaches the observer: a dip during an exoplanet transit does not imply that the star's emitted luminosity fell.

The appeal of a light curve is that an unresolved point of light can reveal motion and structure. In exoplanet transit photometry, repeated dips constrain the orbital period; under the uniform-disc, dark-planet, full-overlap assumptions, the exoplanet transit depth is the blocked area fraction $(R_p/R_{\star }{)}^2$. A toy one-percent dip therefore corresponds to a radius ratio of $0.10$. Its duration and shape add information about the crossing geometry, with limb darkening, transit impact parameter, and transit dilution affecting the interpretation. See exoplanet transit photometry for the geometry. The first figure instead follows the measurement: an instrumental trend and sky contribution can obscure a small physical dip.

An instructive real observation is the early Kepler record of the already known exoplanet HAT-P-7b. Welsh and colleagues analysed 33.5 days from 13 May to 15 June 2009, containing 15 complete exoplanet transits at an orbital period of about $2.20473$ days. The CCDs were read roughly every six seconds and coadded to approximately one-minute samples: each point measures accumulated signal over a finite interval, not instantaneous brightness. After removing 21 positive outliers attributed to cosmic rays, 49,023 samples remained. The authors estimated a scatter of about $150$ parts per million per one-minute sample. A gradual $0.13\%$ count decrease, suspected to arise from focus drift with a fixed extraction aperture, was removed with a cubic polynomial fitted while masking the exoplanet transits. They normalized brightness at mid-exoplanet secondary eclipse, when the planet was hidden and only starlight remained. ^[ref].

What does the instrument actually measure? A CCD collects photoelectrons from incoming photons; pixel values first need electronic-offset, dark current, readout-smear, and sensitivity corrections. ^[ref]. Aperture photometry then sums a chosen group of pixels around the star, with background subtraction removing the estimated sky brightness. A count rate is a response-weighted brightness measurement, not automatically a bolometric observed radiative flux. Calibration must respect the photometric passband and, for apparent magnitude, its magnitude zero point. Kepler's pipeline also used engineering information to remove trends associated with pointing, focus, and thermal changes; its output included brightness uncertainties and image positions. ^[ref].

Calibration and interpretation need separate checks. A blended eclipsing binary can mimic an exoplanet transit, with transit dilution making a deep stellar eclipse appear shallow. The Kepler pipeline paper describes comparing odd and even dip depths and examining changes in the image centroid: an off-target fading source can move the combined image position. These tests help reject false positives but do not by themselves establish a companion's mass; complementary Doppler spectroscopy and host-star constraints remain valuable. ^[ref].

Even a real exoplanet's signal can have several contributors. Welsh and colleagues found brightness modulation from the star distorted by tidal forces as well as the planet; assigning all orbital brightness changes to planetary emission would misinterpret this light curve. ^[ref]. Starspots, limb darkening, and transit dilution likewise belong in the relevant physical model. A flexible trend fitted through a dip could absorb that dip; the masked fit in the real example illustrates why the fitting procedure is part of the measurement. Exposure-averaged light curves and phase folding of a light curve make two further limitations explicit.