Question

Distinguish between secular trend, seasonal variations and cyclical fluctuations

Answer 1

Answer:

The difference between seasonal and cyclical behavior has to do with how regular the period of change is. ... For example, the stock market tends to cycle between periods of high and low values, but there is no set amount of time between those fluctuations. Series can show both cyclical and seasonal behavior.

Explanation:

Answer 2

Answer:

The Secular trends, Seasonal variations, and Cyclical Fluctuations are all components of the Time Series. Following are some of their distinguishing features.

1. 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.
2. Seasonal variations are periodic and regular data changes within a year. The sales of garments are a good example of  seasonal variations which see every a regular change in the type of garments that are being sold every season.
3. Cyclical fluctuations typically lasting for more than a year are best represented by a business cycle which goes through a number phases of prosperity, decline, depression, and regain. As opposed to seasonal variations, they don't have regular periodicity and each phase can be of it's own length.