Which of the following are components of a time series ?
(A) Irregular component
(B) Cyclical component
(C) Chronological Component
(D) Trend Component
Choose the correct answer from the options given below :
Which of the following are components of a time series ?
(A) Irregular component
(B) Cyclical component
(C) Chronological Component
(D) Trend Component
Choose the correct answer from the options given below :
Solution
✅ Correct Option: 1
Time series have three main parts:
- (A) Irregular component: Random ups and downs that don't follow patterns
- (B) Cyclical component: Big patterns that happen over many years
- (D) Trend Component: The overall direction (up, down, or flat) over time
"Chronological Component" (C) is not actually a real part of time series - it just means the data is in time order.
So the answer is: (A), (B) and (D) only
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