A Trend Is One of the Four Different Components of a Time

question 55

True/False

A trend is one of the four different components of a time series.It is a long-term,relatively smooth pattern or direction exhibited by a series,and its duration is more than one year.

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Definitions:

Collectively Exhaustive

Refers to a set of events that covers all possible outcomes, ensuring that no possibilities are left out.

Equally Likely

A term used in probability to describe outcomes that have the same chance of occurring.

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Mutually Exclusive

Referring to events that cannot both occur at the same time, implying no overlap in their possible outcomes.