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A repeated pattern of spikes or drops in demand associated with certain times of the year in a time series is called "Seasonality"
What is Seasonality?
Seasonality is a property of a time - series data that occurs when the data goes through predictable and recurring changes on a yearly basis. Seasonal refers to any predictable variation or pattern that repeats or repeats over the course of a year.
Some characteristics of seasonality are-
- Seasonality is the term used to describe predictable changes that take place over the course of a year in an economy or business based on the seasons, such as the calendar and commercial seasons.
- Stocks & economic trends can be analyzed using seasonality.
- Businesses can use seasonally to inform choices about inventory levels and employee scheduling, for example.
- Retail sales, which normally see increased spending during the 4th quarter of calendar year, are one instance of a seasonal measure.
To know more about seasonal index, here
https://brainly.com/question/16850606
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