Question

The major components of a time series are all of the following EXCEPT: trend. cycles. random variations. seasonality. inflation.

Answer 1

Answer: Inflation

Explanation:

Time series data are refer to those taken over a period of years with a minimum of four years being satisfactory. The data shown will have variations that fall under four major components being;

• Trend - Data that moves in a predictable fashion and so can be used to predict future behavior.
• Cycles - The variation here follows the business cycle or its own.
• Random Variables - Cannot be predicted.
• Seasonal - These follow a chronological pattern.

Only Inflation does not fall here.