Term
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Definition
| Measures the relative change in price, quantity, value, or some other item of intrest from one time period to another |
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Term
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Definition
| measures the relative change in just one variable |
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Term
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Definition
| Measures the change in both the price and quantities involved |
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Term
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Definition
| describes the changes in prices from one period to another for a "market basket" of goods and services |
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Term
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Definition
A collection of data recorded over a period of time.
An analysis of history.
Usually assumes past pattern to continue into the future |
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Term
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Definition
| the smooth long term direction of a time series |
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Term
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Definition
| The rise and fall of a time series over period longer than one year |
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Term
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Definition
| Patterns of change in a time series within a year, which tends to repeat each year |
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Term
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Definition
Episodic- Unpredictable but identifiable
Residual- also called chance fluctuation and unidentidiable |
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