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ECO 203 Ch.1

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Very useful for looking at the distribution of numerical data   Histogram  
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The number of observations in a data set that take on any given value   Frequency Distribution  
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The percent of observations in a data set that take on any given value   Relative Frequency Distribution  
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They show a distribution of data, categorical data that can be lumped into discrete non-rank-able categories such as what color shirts people are wearing (red, green, blue) and what industries employ graduates (finance, banking, accounting)   Bar Graph  
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Great for showing the relationship between two sets of numerical data. It helps us to understand the relationship between the two variables.   Scatter Plot  
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Visualizations perfect for showing portions of data. These portions always add to 100%. Best used for categorical data   Pie Charts  
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Used to look at evolution of a data series over time. Can be used to plot multiple series for comparison. Examples: stock prices, Company Sales, Unemployment.   Line Plots/ Time Series Lines  
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Created by: acorso3
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