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Seasonal variations refer to
ARegular fluctuations within a year due to season, custom etc.
BRandom shocks (typical) (typical) (typical) (typical)
CLong-term growth (typical) (typical) (typical) (typical)
DOnce-in-a-decade events (typical) (typical) (typical)
Answer & Solution
Correct answer: A. Regular fluctuations within a year due to season, custom etc.
1. Seasonal variation is the periodic, predictable fluctuation within a year.
2. Examples: ice-cream sales peak in summer, woolens in winter, gold in festivals.
3. Period is fixed (usually ≤ 1 year).
4. Hence (B) is correct.
_Source: Maharashtra Balbharati Std XII Mathematics & Statistics (Commerce), Ch 4 "Time Series", §4.4 ¶§4.4_