Test: Time Series Analysis - SSC CGL MCQ

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).

A set of observations recorded at regular time intervals is referred to as time series data. Time series data is commonly used in various fields to analyze trends and patterns over time.

Moving averages are used to smooth out the fluctuations or noise in a time series, making it easier to identify the underlying trend.

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.

The graph of a time series is often represented as a histogram, showing the distribution of data points over time.

The graph of a time series is called a "Historigram." It is a graphical representation commonly used to visualize time series data. Therefore, option C is the correct answer.

Secular trend can be measured by four methods. These methods include various statistical techniques used to analyze long-term trends in time series data. Therefore, option C is the correct answer.

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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