The time series component that reflects variability over short repetitive time periods and has duration of less than one year is called:
A) trend.
B) cyclical.
C) seasonal.
D) random variation.

Question

Quizplus · Accepted Answer

Seasonal component of a time series reflects the recurring patterns within a single year. These patterns can repeat with a frequency of less than one year, and typically are associated with holidays, weather, and other seasonal events. The other components - trend, cyclical, and random variation - do not have a specific time duration associated with them.

The Time Series Component That Reflects Variability Over Short Repetitive