Question

Question 3 Which type of variation are the following:

1. What time series component was exemplified during the 1980's when the World economy enjoyed a period of prosperity?
2. What is variation within a year, such as high sales at Christmas and Easter and low sales in January, called?
3. The merchants in Morris, Manitoba suffered flood damage in May 1997. Stores were closed for remodeling nearly two months. What is this type of variation in sales called?
4. Since a ski resort does most of its business in the winter, what is the major source of variation in income due to?
5. What is the long-term behavior of a variable over an extended period of time called?

Answer 1