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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 timeseries 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 longterm trend of rising or falling price ranged between $1$5 per lb....
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This document was uploaded on 06/18/2011.
 Spring '11

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