The correlogram (autocorrelation function plot) shows the correlation between a time series and its lagged versions. This reveals the temporal dependencies within the series, helping to identify its underlying structure, such as trends, seasonality, and the order of autoregressive (AR) and moving average (MA) components.
Correlogram is an important tool which provides - (1) Seasonal variations of time series (2) Measurement of cyclic variations (3) Nature of the internal structure of time series (4) The moving average of random elements (5) Question not attempted
Asked in Asst. Statistical Officer (Agri. Deptt.) 2024 · Topic: Nature of Indian Economy (Sectoral Composition and Structural Transformation)
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Answer: C. Nature of the internal structure of time series
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