6. Discuss the nature of variation in a time series Data process. W steps to measure seasonality
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Answer:
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Time series exhibits Cyclical Variations at a fixed period due to some other physical cause, such as daily variation in temperature. Cyclical variation is a non-seasonal component that varies in a recognizable cycle.
The following graphical techniques can be used to detect seasonality:
A run sequence plot will often show seasonality
A seasonality plot of US electricity usage
A seasonal plot will show the data from each season overlapped[4]
A seasonal subseries plot is a specialized technique for showing seasonality
Multiple box plots can be used as an alternative to the seasonal subseries plot to detect seasonality
An autocorrelation plot (ACF) and a spectral plot can help identify seasonality.
A really good way to find periodicity, including seasonality, in any regular series of data is to remove any overall trend first and then to inspect time periodicity.
