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Time series techniques examine patterns in the past in order to predict the future. Match the type of pattern with it respective explanation. - Trends
Time series techniques examine patterns in the past in order to predict the future. Match the type of pattern with it respective explanation. - Trends - Seasonal Variations - Cycles - Irregular Variations - Random Variations A. Short-term, yet regular, variations related to the calendar or time of day B. Wavelike variations that last more than one year and are often related to changing economic, political, or even agricultural conditions C. Due to unusual circumstances such a severe weather, strikes, or a major change in a product or service D. Residual variations that remain after you have accounted for all other behaviors and as these decrease, forecast precision increases E. Long-term upward or downward movement in the data and often impacted by shifts in population, incomes, and cultural norms
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