{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

# ECON - Appendix Making& Using Appendix Making& Using...

This preview shows pages 1–8. Sign up to view the full content.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Appendix: Making & Using Appendix: Making & Using Graphs Graphs • Why bother? • Graphs & Data • Graphs & Models • Slope Why bother? Why bother? • visual relationship between to variables • analyze & understand-- information-- ideas • “A picture is worth a thousand words” • corny, but true • a graph conveys info more clearly & quickly than words Graphs & Data Graphs & Data • scatter diagram-- graph x value that corresponds to y value-- relationship between x and y-- do they move in same direction?-- opposite direction?-- varied directions? example: consumption & income example: consumption & income each point = 1 year as income rises, so does consumption • time-series graph-- measures the behavior of a variable over time-- x axis = time-- y axis = variable-- Is variable high or low? rising or falling? stable or volatile? example: price of coffee example: price of coffee price is volatile no long-term trend of rising or falling price ranged between \$1-\$5 per lb. •...
View Full Document

{[ snackBarMessage ]}

### Page1 / 26

ECON - Appendix Making& Using Appendix Making& Using...

This preview shows document pages 1 - 8. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online