Match List-I with List-II
| List-I | List-II | ||
| Time Series Component | Example | ||
| (A) | Secular Variation | (I) | Pandemic |
| (B) | Seasonal Variation | (II) | Recession in business |
| (C) | Cyclic Variation | (III) | Monthly sale of woolen cloths |
| (D) | Irregular variation | (IV) | Data regarding National income |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → (A)-(IV), (B)-(III), (C)-(II), (D)-(I)
The components of a time series differ in how long a movement lasts and whether it repeats.
(A) Secular Variation
This matches (IV) Data regarding National income. Secular trend is the smooth long-term rise or fall of a series, as in national income growing over many years.
(B) Seasonal Variation
This matches (III) Monthly sale of woolen cloths. Seasonal variation repeats within each year; woollen sales rise every winter.
(C) Cyclic Variation
This matches (II) Recession in business. Cyclical variation is the business cycle of boom and recession, spread over more than a year.
(D) Irregular variation
This matches (I) Pandemic. Irregular variation comes from sudden, unpredictable events such as a pandemic, flood or war.
So the matching is (A)-(IV), (B)-(III), (C)-(II), (D)-(I).