101ch1appendix23

101ch1appendix23 - Appendix: Making & Using Graphs Why...

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Appendix: Making & Using Appendix: Making & Using Graphs Graphs Why bother? Slope
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Why bother? Why bother? visual relationship between to variables analyze & understand -- information -- ideas
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“A picture is worth a thousand words” corny, but true a graph conveys info more clearly & quickly than words
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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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each point = 1 year as income rises, so does consumption
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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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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.
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This note was uploaded on 04/02/2012 for the course ECO 101 taught by Professor Laniga during the Spring '08 term at SUNY Oswego.

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101ch1appendix23 - Appendix: Making & Using Graphs Why...

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