The table to the right shows the price of a novel at a certain book store during

Question

The table to the right shows the price of a novel at a certain book store during 2009. Identify the data as either time series or cross-sections. Choose the correct answer below. A. The data are cross-sections because the data are measured over time. B. The data are time series because the data are taken from situations that vary over time but are measured during a single time period. C. The data are time series because the data are measured over time. D. The data are cross-sections because the data are taken from situations that vary over time but are measured during a single time period.

Explanation / Answer

Here correct option is option C

The data are time series because the data are measured over time.

Cross sectional data are observations that come from different individuals or groups at a single point in time.

Time series data is a set of observations collected at usually discrete and equally spaced time intervals.

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