Which of the four time series components is more likely to exhibit the relative steady growth of the population of Las Vegas from 1964 to 2004?
A)Long-term trend
B)Cyclical variation
C)Seasonal variation
D)Random variation

Question

Quizplus · Accepted Answer

The long-term trend component of a time series represents the gradual growth or decline of the data over a long period of time. Population growth over a span of forty years is likely to exhibit a relative steady growth, which is best represented by the long-term trend component.

Which of the Four Time Series Components Is More Likely