A restaurant has been experiencing higher sales during the weekends compared to the weekdays.Daily restaurant sales patterns for this restaurant over a week are an example of _________ component of time series.
A)trend
B)seasonal variation
C)cycle
D)irregular component
E)random

Question

Quizplus · Accepted Answer

The higher sales during weekends compared to weekdays represent a repeating pattern over time, which is an example of seasonal variation, a component of time series. Trend refers to a long-term increase or decrease in sales, cycle indicates fluctuations that are not of a fixed period, irregular component refers to unexpected and unpredictable changes, and random component refers to purely random or chance events.

A Restaurant Has Been Experiencing Higher Sales During the Weekends