Question

Time series patterns that repeat themselves after a period of days or weeks are called.

Answer 1

Time series patterns that repeat themselves after a period of days or weeks are called seasonal patterns.

Seasonal patterns occur when a time series is affected by seasonal factors such as the time of the year or the day of the week.

It is always of a fixed and known frequency.

Examples:-

The weekly sales of milk shows seasonality which is induced partly by the change in the cost of the milk at the end of the calendar year.

The sale of umbrellas will skyrocket during the monsoon season every year.

The sale of eggs or meat will plummet on Tuesday and Saturday due to religious reasons.

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