Question

A repeated pattern of spikes or drops in demand associated with certain times of the year in a time series is.

Answer 1

A repeated pattern of spikes or drops in demand associated with certain times of the year in a time series is called "Seasonality"

What is Seasonality?

Seasonality is a property of a time - series data that occurs when the data goes through predictable and recurring changes on a yearly basis. Seasonal refers to any predictable variation or pattern that repeats or repeats over the course of a year.

Some characteristics of seasonality are-

• Seasonality is the term used to describe predictable changes that take place over the course of a year in an economy or business based on the seasons, such as the calendar and commercial seasons.
• Stocks & economic trends can be analyzed using seasonality.
• Businesses can use seasonally to inform choices about inventory levels and employee scheduling, for example.
• Retail sales, which normally see increased spending during the 4th quarter of calendar year, are one instance of a seasonal measure.

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