What defines a cyclical variation?

A cyclical variation refers to the recurring patterns of change in data that occur over an extended period, often linked to economic or seasonal trends. This characteristic distinguishes it from other types of variations, such as those that are irregular or non-recurring.

Cyclical variations can typically be observed in business or economic indicators, where factors such as market conditions, consumer behavior, and macroeconomic cycles drive these fluctuations. The ability to identify cyclical variations is essential for analysts, as it helps in predicting future performance based on past cycles.

The other options describe different types of variations. Random changes do not follow a discernible pattern, while variations that lack a pattern or that occur only once fail to provide the recurring nature that defines cyclical variations. Thus, the correct answer highlights the essence of cyclical variation as being the repetition over a longer time frame.