A company is shut down due to unavailability of electricity due to non payment of electricity Bill because of some unavoidable circumstances. Under which component of time series does this situation fall?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Irregular
Irregular variations are caused by sudden, unpredictable events that do not follow any pattern, such as strikes, floods or accidents. A shutdown caused by unavoidable circumstances is such a one-off event.
It does not repeat within a year (seasonal), does not belong to a business cycle of several years (cyclic), and is not a long-term movement of the series (secular trend).
CBSE Applied Mathematics (Class XII):
Time Series Analysis
