Property prices in a city rise for several years, then fall, then rise again, over periods of about eight years. Which component of a time series is this?

Secular trendCorrect answerYour answerCyclical variationCorrect answerYour answerSeasonal variationCorrect answerYour answerIrregular variationCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer B

Correct answer: B

Rises and falls that repeat over several years are cyclical variation.
So this is cyclical variation.

Worth noting

Cyclical swings last longer than a year; seasonal ones repeat within a year.

Concept: Cyclical variation
Typical timeTypical: 90 s
Your timeYours: —

The rule this testsComponents of a time series

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Property prices in a city rise for several years, then fall, then rise again, over periods of about eight years. Which component of a time series is this?

Explanation