Expalain the difference between cyclical and seasonal variations in a time series?

Answer 1

The Secular trends, Seasonal variations, and Cyclical Fluctuations are all components of the Time Series. Following are some of their distinguishing features.

1. Secular trends are the part of time series which show the overall tendency of the data over a longer period of time e.g. growth of population in a particular area over a certain period of time.

2. Seasonal variations are periodic and regular data changes within a year. The sales of garments are a good example of seasonal variations which see every a regular change in the type of garments that are being sold every season.

3. Cyclical fluctuations typically lasting for more than a year are best represented by a business cycle which goes through a number phases of prosperity, decline, depression, and regain. As opposed to seasonal variations, they don't have regular periodicity and each phase can be of it's own length.

Answer 2

difference btween cyclical and seasonal variation of time series ?