i. One component of a time series is the secular trend that is the smooth movement of a series over a short period of time, such as a few months or quarters.
ii. Many business and economic time series have a recurring seasonal pattern.
Iii) One component of a time series is cyclical variation. An example of cyclical variation is the business cycle that consists of periods of prosperity followed by periods of recession, depression, and recovery.
A) (i), (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements, but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) All statements are false

Question

i. One component of a time series is the secular trend that is the smooth movement of a series over a short period of time, such as a few months or quarters. 
ii. Many business and economic time series have a recurring seasonal pattern.
Iii) One component of a time series is cyclical variation. An example of cyclical variation is the business cycle that consists of periods of prosperity followed by periods of recession, depression, and recovery.
A) (i), (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements, but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) All statements are false

Quizplus · Accepted Answer

The secular trend refers to long-term movements over years, not short periods. Seasonal patterns and cyclical variations are correctly described.

I One Component of a Time Series Is the Secular