If Data for a Time Series Analysis Is Collected on an Annual

question 13

Multiple Choice

If data for a time series analysis is collected on an annual basis only, which component may be ignored?

• A)trend
• B)seasonal
• C)cyclical
• D)irregular

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Definitions:

Contingency

Contingency refers to a future event or circumstance that is possible but cannot be predicted with certainty, often implying the need for plans to address potential changes.

Scientific Management

A theory of management that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity.

Open Systems

Organizations or entities that interact dynamically with their environment, adapting and exchanging resources and information.

Functional

Pertaining to the practical or utilitarian use of something, often emphasizing how something works or operates within a system or organization.