Question

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:

• A. (A), (B) and (D) only
• B. (A), (B) and (C) only
• C. (A), (B), (C) and (D)
• D. (B), (C) and (D) only

Answer 1

Answer: (A)

(A), (B) and (D) only

Answer 2

The components of a time series include:
(A) Irregular component: Represents random variations due to unforeseen factors.
(B) Cyclical component: Represents periodic changes over time due to economic cycles.
(D) Trend component: Represents the long-term movement in the data.
The option**(C),** ”Chronological component,” is not a standard component of time series.
Thus, the correct answer is (A), (B), and (D) only.