In a time series, the variations which occur due to general tendency of the data to increase or decrease over a long term are known as:
In a time series, the variations which occur due to general tendency of the data to increase or decrease over a long term are known as:
Solution
The question asks for the type of variation that occurs when data shows a general tendency to increase or decrease over a long term.
Secular variations refer to the general long-term trend in data that shows consistent movement in one direction over an extended period.
The key characteristics are:
- Long-term pattern (decades or longer)
- General tendency in one direction
- Consistent increase or decrease over time
Examples include population growth over 50 years, global temperature changes over decades, or economic growth over long periods.
This matches the description in the question: "general tendency" combined with "long term" and "increase or decrease."
Cyclical variations involve up and down movements that repeat in regular cycles, like business cycles where the economy alternates between growth and recession periods.
These don't fit because they involve repeated directional changes rather than a general tendency in one direction.
Irregular variations are random, unpredictable changes with no identifiable pattern, such as sudden market disruptions from unexpected events.
These don't fit because the question specifies a "general tendency," indicating a pattern exists.
Seasonal variations are regular patterns that repeat within a year based on seasons, like increased ice cream sales in summer.
These don't fit because they are short-term (annual) patterns, while the question specifically mentions "long term."
Therefore, the answer is Option 2: Secular Variations.
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