BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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it is evident that the time series is stationary
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the data fluctuates around the variable mean
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there is no relationship between time and the time series variable
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there is still not enough evidence to conclude that the time series is stationary
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Detailed explanation-1: -A horizontal pattern exists when the data fluctuate randomly around a constant mean over time. Sometimes, changes in a condition often result in a time series with a horizontal pattern to shift to a new level at some point in time.
Detailed explanation-2: -Seasonality. Seasonal patterns occur when time-series data shows regular and predictable patterns at time intervals of less than a year. This data pattern may appear as spikes or other anomalies on an otherwise linear graph.
Detailed explanation-3: -There are three types of time series patterns: trend, seasonal, and cyclic. A trend pattern exists when there is a long-term increase or decrease in the series. The trend can be linear, exponential, or different one and can change direction during time.
Detailed explanation-4: -variance is NOT a time series component, it refers to the spread of a data set.