5. The components of time-series are: a. Trend, Seasonal, Movement, and Random b

Question

5. The components of time-series are: a. Trend, Seasonal, Movement, and Random b. Trend, Mobility, Cyclical, and Seasonal c. Trend, Seasonal, Cyclical, and Random d. Trend, Seasonal, Cyclical, and Perfection The mean absolute deviation measures the accuracy of a forecast by calculating.. a. the mid-point of absolute forecasting error per period of historical data. b. the average absolute forecasting error per period of historical data. c. the standard deviation of absolute forecasting error per period of historical data d. both a and c 6. A seasonal component is present in a time series if a consistent pattern in the dat associated with a swing variation. 7. a. True b. False

Explanation / Answer

Ans-5.

OPTION (C)

Ans-6.

Ans-7.

Cyclical variation refers to the long term oscillation or swings about the trend, and only long period sets of data will show cyclical fluctuation of any appreciable magnitude.

Most time series patterns can be described in terms of four basic classes of components: The systematic pattern includes the trend (denoted as Tt), seasonal (denoted as St), and cyclical (denoted as Ct) components. The irregular component is denoted as It or et, where t stands for the particular point in time.

FALSE

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