The Random Variation That Occurs in Any Time Series Is

question 39

Short Answer

The random variation that occurs in any time series is known as the ________ component.

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Definitions:

Correlation

A statistical measure that indicates the extent to which two variables fluctuate together, showing whether and how strongly pairs of variables are related.

Variance Accounted

The proportion of total variation in a dataset that is explained by a statistical model.

Correlation

A statistical measure that expresses the extent to which two variables change together; indicating the strength and direction of a relationship.

Coefficient of Determination

A statistic that indicates the proportion of the variance in the dependent variable predictable from the independent variable(s).