Question

The time series component that reflects a wavelike pattern describing a long-term trend that is generally apparent over a number of years is called cyclical. True False

Answer 1

Answer: True

Explanation:

The time series component that reflects a wavelike pattern describing a long-term trend that is generally apparent over a number of years is called cyclical variation.

It is usually for a period of more than one year. But instances of cyclical variations that are consistent and predictable are not common.

Answer 2

True

Explanation:

We can define the cyclical component of a time series as the type whose fluctuations or period is not fixed.

The irregular component, revealing a succession of phases of expansion and contraction are excluded.

A cyclic pattern is such that the data which it exhibit rises and falls are not of fixed period.

These irregular periods of cyclical time series are due to the variations in its cycle.

An example is time getting out of bed,