The time series component that reflects variability over short repetitive time periods and has duration of less than one year is called:
A)long-term trend
B)cyclical variation
C)seasonal variation
D)random variation

Question

Quizplus · Accepted Answer

Seasonal variation reflects fluctuations that occur in a cyclic pattern over a period of less than one year, such as monthly or quarterly fluctuations. Long-term trend reflects the underlying direction in which a variable is moving over the long term, and cyclical variation reflects fluctuations that occur in a cyclic pattern over a period of more than one year. Random variation reflects fluctuations that cannot be attributed to any identifiable cause or pattern.

The Time Series Component That Reflects Variability Over Short Repetitive