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Seasonal Variation
Fluctuations in statistical or economic data that occur at regular intervals due to seasonal patterns.
Random Variation
The inherent unpredictability in the outcomes of a process, often analyzed in statistical contexts to understand or model data.
Cyclical Effect
A pattern of fluctuations in a time series that corresponds to cycles in the broader economy, often related to business or economic conditions lasting more than a year.
Exponential Smoothing
A time series forecasting method for univariate data that applies smoothing factors to make forecasts.
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