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4 cards from this section. Quick, good the night before a test.
What are the three components of seasonal decomposition?
Remember the acronym TSR.
What does the trend component represent?
Think about the long-term behavior of the data.
In seasonal decomposition, what does 'seasonality' refer to?
Think about the cycles in data that happen regularly.
True or False: Residuals can indicate anomalies in data.
What do residuals represent?
Given a time series dataset with a clear yearly sales pattern, describe how you would apply seasonal decomposition and interpret the findings.
Consider what each component will tell you about overall business performance.
If a decomposition plot shows an increasing trend with strong seasonality but high residuals, what actions might a data analyst take?
Focus on how to improve accuracy in seasonally driven environments.
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