10 Questions MCQ Test Statistics for SSC CGL - Test: Time Series Analysis
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Prosperity, Recession, and depression in a business is an example of:
Detailed Solution for Test: Time Series Analysis - Question 2
Prosperity, recession, and depression in a business represent the cyclical trends in the business cycle. These are longer-term economic fluctuations that repeat over time and are characterized by periods of growth (prosperity), decline (recession), and severe decline (depression).
The best-fitted trend line is one for which the sum of squares of residuals or errors is:
Detailed Solution for Test: Time Series Analysis - Question 4
The best-fitted trend line is the one for which the sum of squares of residuals or errors is minimized. This is because a lower sum of squares of residuals indicates a better fit of the trend line to the data.
An orderly set of data arranged in accordance with their time of occurrence is called:
Detailed Solution for Test: Time Series Analysis - Question 6
A time series is a sequence of data points ordered chronologically. It represents the values of a variable at different points in time. In this context, "time series" is commonly referred to as a dataset or collection of data where each data point corresponds to a specific time or period. Therefore, the correct answer is Option D.
Detailed Solution for Test: Time Series Analysis - Question 7
A time series typically consists of various components, including short-term variations, long-term variations, and irregular variations.
Short-term variations represent fluctuations that occur over a short period, often due to seasonality or other periodic effects. Long-term variations indicate trends that evolve over an extended period, reflecting underlying growth or decline. Irregular variations are unpredictable and irregular movements in the data. So, all of these components are part of a typical time series. Therefore, the correct answer is Option D.
The secular trend is measured by the method of semi-averages when:
Detailed Solution for Test: Time Series Analysis - Question 10
The secular trend is measured by the method of semi-averages when the trend is linear. This method is particularly suitable when the underlying trend follows a linear pattern. Therefore, option B is the correct answer.
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