Question

Cyclic variation can occur several times in a year.

Hint:

Remember the time frames: {S}easonal is {S}hort-term (within a year). {C}yclic is for longer {C}ycles (more than a year).

Answer 1

In time series analysis, variations are categorized based on their duration.
Seasonal variations are short-term fluctuations that occur regularly within a period of one year or less (e.g., higher sales of ice cream in summer).
Cyclic variations are long-term oscillations that occur over a period of more than one year (e.g., business cycles of boom and recession).
The statement describes seasonal variation, not cyclic variation. Therefore, the statement is False.