Question

If data for a time series analysis are collected on an annual basis only, which pattern can be ignored? a. horizontal b. seasonal c. trend d. cyclical

Answer 1

If data for a time series analysis are collected on an annual basis only, then the option(b) seasonal pattern can be ignored

Time series analysis is a specific way of analyzing a sequence of data points collected over an interval of time

The seasonal pattern is refers to the seasonal characteristics of the time series data. It is the predictable pattern that repeats at a certain frequency within one year, such as weekly, monthly, quarterly, etc.

A horizontal pattern exists when the data fluctuate randomly around a constant mean over time.

A trend pattern exists when there is a long-term increase or decrease in the series.

The cyclical component of a time series refers to fluctuations around the trend, excluding the irregular component, revealing a succession of phases of expansion and contraction

Here, the data for a time series analysis are collected on an annual basis, so the seasonal pattern can be ignored

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