Asked by
Milca Martinez
on Nov 30, 2024
Verified
If data for a time series analysis are collected on a monthly basis only,which component of the time series may be ignored?
A) Long-term trend
B) Cyclical variation
C) Seasonal variation
D) Random variation
Seasonal Variation
Fluctuations in data or activity levels that occur regularly based on seasonal factors, such as weather, holidays, or school schedules.
Time Series Analysis
Time Series Analysis involves statistical techniques for analyzing time series data in order to extract meaningful statistics and characteristics of the data over time.
- Ascertain and expound upon the four integral parts of a time series: trend, cyclical variations, seasonality, and randomness.
Verified Answer
AT
Learning Objectives
- Ascertain and expound upon the four integral parts of a time series: trend, cyclical variations, seasonality, and randomness.
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