The industrial chemical industry in England shows a fairly regular rise and fall in demand over four- or five-year periods.This provides an illustration of the _____ component of a time series.

Question

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The regular rise and fall in demand over four- or five-year periods illustrates the cycle component of a time series. The cycle represents the recurring patterns of ups and downs in the data, which are usually longer than one year. The trend component shows the long-term direction of the data, whereas the seasonal component represents the regular fluctuations that occur within a year. The random (or irregular) component represents the unpredictable or erratic movements in the data that cannot be explained by any of the other components.

The Industrial Chemical Industry in England Shows a Fairly Regular