Consider the following to answer the question(s) below:
Annual estimates of the population in a certain city from 2005 (t = 1) onward are shown in the time series graph below.
-The dominant component in this time series is
A) cyclical.
B) irregular.
C) seasonal.
D) trend.
E) No time series component is dominant. The time series is random walk.

Question

Consider the following to answer the question(s) below:
Annual estimates of the population in a certain city from 2005 (t = 1) onward are shown in the time series graph below. 
-The dominant component in this time series is
A) cyclical. 
B) irregular. 
C) seasonal. 
D) trend. 
E) No time series component is dominant. The time series is random walk.

Quizplus · Accepted Answer

The time series graph shows a clear upward trend from 2005 to 2019. While there may be some minor fluctuations around the trend, there is no evidence of a dominant seasonal or cyclical pattern, and the series does not appear to be purely random (i.e. a random walk). Thus, the best choice for the dominant component is trend.

Consider the Following to Answer the Question(s) Below