irregular component

How is the Irregular Component Identified?

The identification of the irregular component involves:
1. Statistical Methods: Techniques like time-series analysis and Fourier analysis are used to separate the irregular component from systematic patterns.
2. Residual Analysis: After removing known seasonal and trend components, the remaining residuals are analyzed to understand the extent of irregularities.
3. Visualization Tools: Graphical tools such as control charts and scatter plots help in visualizing random fluctuations.

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