The ___________ Component of a Time Series Refers to the Erratic

question 5

Multiple Choice

The ___________ component of a time series refers to the erratic time series movements that follow no recognizable or regular pattern.

• A)Trend
• B)Seasonal
• C)Cyclical
• D)Irregular

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Definitions:

Perfect Substitutes

Two goods with straight-line indifference curves.

Constant

A fixed value in mathematics, physics, and other sciences, that does not change under specified conditions.

Indifference Curves

Graphical representations in consumer theory that show combinations of two goods among which a consumer is indifferent.

Downward Sloping

A term often used to describe a graph line indicating a decrease in one variable as another variable increases, such as price and demand.