Question

A pattern that is repeated throughout a time series and has a recurrence period of at most one year is called

• A. Cyclical variation
• B. Irregular variation
• C. Seasonal variation
• D. Long term variation

Answer 1

The correct option is C Seasonal variation

$\Rightarrow$ A pattern that is repeated throughout a time series and has a recurrence period of at most one year is called $Seasonalvariation$.

$\Rightarrow$ The seasonal variations may be due to various seasons or weather conditions for example sale of cold drink would go up in summers & go down in winters.

$\Rightarrow$ These variations may be also due to man-made conventions & due to habits, customs or traditions. For example, sales might go up during Diwali & Christmas or sales of restaurants & eateries might go down during Navratri’s.