Explain different Components of a Time Series

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It is customary to classify the fluctuations of a time series into four basic types of variations which account for the changes in the series over a period of time. 

These four types of patterns, variations, movements or as they ar often called components or elements of time series, are: 1.Secular Trend 2.Seasonal Variations 3.Cyclical Variations 4.Irregular Variations.

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