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Time Series

What is a time series in the context of statistical analysis?
A time series is a set of observations recorded sequentially over time at equal or unequal intervals, used to study patterns and make forecasts.
What is the primary goal of time series decomposition?
To separate trend, seasonal, cyclical, and irregular components.
What are the four main components of a time series?
The four components are Secular Trend (T), Seasonal Variation (S), Cyclical Variation (C), and Irregular or Random Variation (I).
What is a trend-cycle component in time series analysis?
Long-term movement combined with medium-term cyclical fluctuations.
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