The "up-and-down" component of a time series that represents periods of prosperity followed by recession over extended periods of time longer than one year is called:
A)trend variation.
B)seasonal variation.
C)cyclical variation.
D)irregular variation.

Question

Quizplus · Accepted Answer

The description given refers to the cyclical variation. Trend variation refers to an overall increase or decrease in the data over a long period of time. Seasonal variation refers to regular patterns that repeat over a shorter period (e.g. within a year). Irregular variation refers to unpredictable fluctuations in the data.

The "Up-And-Down" Component of a Time Series That Represents Periods