how does seasonal component differ from cyclical component
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A seasonal component in a time series is one in which a particular pattern is repeated after a regular interval. ... A cyclical component in a time series is one in which the pattern is repeated at irregular intervals. The recurrent period of a cyclical component is more than a year.
Step-by-step explanation:
Forecasting
Point forecasts predict a single number in each forecast period, while interval forecasts ... is useful when the time series has both trend and seasonal components.
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