Components of time series
Name and elaborate the four components of time series in brief.
Expert
• TREND (SECULAR TREND):Time series data would normally show an upward or downward trend over a period of time. A trend is a longterm movement in time series. They are generally gradual increases or decreases over a period of time and an example of an upward trend would be price increases over the years, and a downward trend would be decrease in sales over the years. The increase or decrease is fairly gradual and thus a smooth curve or straight line curve generally depicts the trend.
• CYCLICAL VARIATIONS (C):These variations are not regular as seasonal variation, they are medium to long term deviations from the trend. Cyclical variations are recurrent upward or downward movements in a time series but the period of cycle is greater than a year. There are different cycles of varying in length and size. A business cycle is one of the most common forms and passes through stages.
• SEASONAL VARIATIONS (S):Seasonal variations are fluctuations that are repeated periodically, they are short term fluctuations and occur periodically within a year. Major factors causing this repetition are weather conditions and customs of people.• RANDOM (IRREGULAR) VARIATION (R):
These are fluctuations in time series that are short in duration, unpredictable occurrences that are erratic in nature and follow no regular pattern. They result due to unforeseen events such as droughts, strikes etc.
The table below illustrates the relationship between two variable X and Y. A
A manufacturing facility consists of five departments, 1, 2, 3, 4, and 5. It produces four components having manufacturing product routings and production volumes indicated below. 1. Generate the from-to matrix and the interaction matrix. Use a
Monte Carlo Simulation for Determining Probabilities 1. Determining the probability of winning at the game of craps is difficult to solve analytically. We will assume you are playing the `Pass Line.' So here is how the game is played: The shooter rolls a pair of
You must use the pre-formatted cover sheet when you hand in the assignment. Out full detailed solutions. Sloppy work will naturally receive a lower score. 1. Suppose at each step, a particle moving on sites labelled by integer has three choices: move one site to the right with pro
In testing the null hypothesis H0: P=0.6 vs the alternative H1 : P < 0.6 for a binomial model b(n,p), the rejection region of a test has the structure X ≤ c, where X is the number of successes in n trials. For each of the following tests, d
A nurse anesthetist was experimenting with the use of nitronox as an anesthetic in the treatment of children's fractures of the arm. She treated 50 children and found that the mean treatment time (in minutes) was 26.26 minutes with a sample standard deviation of
Hi I WOULD LIKE TO KNOW IF YOU CAN HELP ME TO DO THE ASSIGNMENT IN HEALTH STATISTICS THANKS
Question 1 Do parents with more children travel more than parents of small families? To find out, a survey was done of a large number of adults. Respondents were asked how many children they had and how many times
It doesn't rain often in Tucson. Yet, when it does, I want to be prepared. I have 2 umbrellas at home and 1 umbrella in my office. Before I leave my house, I check if it is raining. If it is, I take one of the umbrellas with me to work, where I would leave it. When I
The design of instrument controls affects how easily people can use them. An investigator used 25 students who were right-handed to determine whether right-handed subjects preferred right-handed threaded knobs. He had two machines that differed only in that one had a
18,76,764
1945449 Asked
3,689
Active Tutors
1419223
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!