101ch1appendix

101ch1appendix - Appendix: Making & Using Graphs 13:00...

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13:00 Appendix: Making & Using Graphs Why bother? Slope
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13:00 13:00 2 Why bother? visual relationship between to variables analyze & understand -- information -- ideas
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13:00 13:00 3 “A picture is worth a thousand words” corny, but true a graph conveys info more clearly & quickly than words
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13:00 13:00 4 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?
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13:00 13:00 5 each point = 1 year as income rises, so does consumption
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13:00 13:00 6 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?
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13:00 13:00 7 example: price of coffee price is volatile no long-term trend of rising or falling price ranged between $1-$5 per lb.
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8 cross-section graph
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101ch1appendix - Appendix: Making & Using Graphs 13:00...

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