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Within time series analysis, which TWO of the following are concerned with long term movements/fluctuations in variables?
A. Seasonal
B. Cyclical
C Random
D. The trendThe answer in the exam kit is B and D. But I thought it was supposed to be B and C. Is the answer in the exam kit right?
Thank you.
The answer in the exam kit is correct. Seasonal and random variations are short-term variations.
I was assuming that seasonal variation occurs frequently (maybe) in real life situations. Why are seasonal variations considered short-term?
Thank you 🙂
Because they change things in the short-term. They carry on changing things year after year, but they are short-term in their effect.
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