Which of the following terms describes the overall long-term tendency of a time series?
A)Long-term trend component
B)Cyclical variation component
C)Random variation component
D)Seasonal variation component

Question

Quizplus · Accepted Answer

The overall long-term tendency of a time series is referred to as the long-term trend component. This component shows the general direction of the time series over an extended period, ignoring the shorter fluctuations that may occur within the series.

Which of the Following Terms Describes the Overall Long-Term Tendency