Question

State the components of time series.​

Answer 1

Answer:

Time series consist of four components: (1) Seasonal variations that repeat over a specific period such as a day, week, month, season, etc., (2) Trend variations that move up or down in a reasonably predictable pattern, (3) Cyclical variations that correspond with business or economic 'boom-bust' cycles or follow their......

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Answer 2

Step-by-step explanation:

Time series consist of four components:

(1) Seasonal variations that repeat over a specific period such as a day, week, month, season, etc.,

(2) Trend variations that move up or down in a reasonably predictable pattern,

(3) Cyclical variations that correspond with business or economic 'boom-bust' cycles or follow their own peculiar cycles, and

(4) Random variations that do not fall under any of the above three classifications.