Asked by Kathleen Hoang on May 26, 2024
Verified
The fundamental difference between cycles and seasonality is the
A) duration of the repeating patterns.
B) magnitude of the variation.
C) ability to attribute the pattern to a cause.
D) speed of the variation.
E) cycles happen more often than seasonality.
Cycles
Periods or sequences in a system or process that repeat in a regular pattern, such as the phases of economic growth and decline or the operation of machinery.
Seasonality
Refers to fluctuations in demand or supply of certain products or services that occur regularly at certain times of the year.
- Obtain a clear understanding of the characteristic features and applications of time-series analysis in forecasting.
Verified Answer
RS
Rashuan SimonMay 30, 2024
Final Answer :
A
Explanation :
The duration of repeating patterns is the key difference between cycles and seasonality. Cycles are longer patterns that occur over years, while seasonality refers to shorter patterns that tend to happen within a year.
Learning Objectives
- Obtain a clear understanding of the characteristic features and applications of time-series analysis in forecasting.
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