distinguish between seasonal variation, trend and irregular variations.
Answers
Secular trends are the part of time series which show the overall tendency of the data over a longer period of time e.g. growth of population in a particular area over a certain period of time.
Seasonal variations are periodic and regular data changes within a year.
Answer:
Secular trends are the part of time series which show the overall tendency of the data over a longer period of time e.g. growth of population in a particular area over a certain period of time. Seasonal variations are periodic and regular data changes within a year
Definition: The trend is the component of a time series that represents variations of low frequency in a time series, the high and medium frequency fluctuations having been filtered out.
Irregular variations or random variations constitute one of four components of a time series. They correspond to the movements that appear irregularly and generally during short periods. Irregular variations do not follow a particular model and are not predictable.