Trend represents the long-term general direction of a time series. It may show a long-term increase, decrease, or relatively stable movement.
Trend represents the long-term general direction of a time series. It may show a long-term increase, decrease, or relatively stable movement.
A company's sales increasing gradually over several years indicate an upward trend.
The series shows a long-term increase. Values tend to rise as time passes, even if there are small short-term ups and downs.
The series shows a long-term decrease. Values tend to fall over a long period.
The series does not show a clear long-term rise or fall. The general level remains roughly the same over time.
Unit 1 is concerned with the meaning of trend. Methods of estimating trend belong to later syllabus areas.