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The major components of a time series are all of the following EXCEPT: trend. cycles. random variations. seasonality. inflation.

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Answer: Inflation

Explanation:

Time series data are refer to those taken over a period of years with a minimum of four years being satisfactory. The data shown will have variations that fall under four major components being;

  • Trend - Data that moves in a predictable fashion and so can be used to predict future behavior.
  • Cycles - The variation here follows the business cycle or its own.
  • Random Variables - Cannot be predicted.
  • Seasonal - These follow a chronological pattern.

Only Inflation does not fall here.

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