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In reference to the Time Series Analysis, which of the following statements are correct?

A. Variations which generally occur due to the general tendency of the data to increase or decrease, are known as secular variations.

B. Variations which occur due to change in climate, wheather conditions, festivals etc. are known as seasonal variations.

C. Variations which occur due to some unpredictable forces are known as cyclic variations.

D. Variations which occur due to booms and depressions are known as irregular variations.

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 3

A and B correctly describe secular (trend) and seasonal variation. C is wrong because unpredictable forces produce irregular variation, and D is wrong because booms and depressions produce cyclic variation. So C and D have their labels interchanged.

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