Asked by Talia Miller on Jun 27, 2024
Verified
Time-series data may exhibit which of the following behaviors?
A) trend
B) random variations
C) seasonality
D) cycles
E) They may exhibit all of the above.
Time-series Data
A sequence of data points collected or recorded at time-ordered intervals, often used for forecasting or statistical analysis.
Random Variations
Unpredictable fluctuations that affect data or processes, not attributable to any known cause.
- Grasp the distinct features and practical uses of time-series analysis in the context of forecasting.
Verified Answer
JP
Jason PatronikJun 28, 2024
Final Answer :
E
Explanation :
Time-series data can exhibit trend (a consistent upward or downward movement over time), random variations (unpredictable fluctuations), seasonality (repeating patterns based on seasonal factors such as weather or holidays), and cycles (long-term repeating patterns such as economic booms and busts). Therefore, it is possible for time-series data to exhibit all of the above behaviors.
Learning Objectives
- Grasp the distinct features and practical uses of time-series analysis in the context of forecasting.
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