Question

Advantages of graphical re of data in statistical economics

Answer 1

Once upon a time, in huge city there was a man who was returning to his home from a party.While he was going on his way he saw a old beggar . The beggar asked for some food or money so that he can survive.
The man was drunked so he took a lot of time to recognise that the person who is begging is a beggar. As he was drunked he gave him Rs.10,000. The beggar became very happy ,as the man was also carrying some food from the party he gave all that food.
The beggar met a poor dog that night he decided that he has a lot of money and food now so he should give it to the poor dog. That dog became very happy
Later on in his life the old poor beggar became a very rich businessman .And he lives rest of his life happily

Answer 2

In the diagram drawn above the successive years from the table are shown horizontally and the corresponding values of export and import are shown vertically and the points are located separately on the plane from the middle of the respective years and the lacus of those points exhibit the trend along the line diagrams.

Bar Diagrams:

It is another well-known useful statistical weapon to represent raw data decently. This device is applied specially in a situation where the given data can be classified on the basis of a non- measurable criterion e.g., standards of college education in different states of India at the present time.

This is very often called cross-section data. More precisely, a bar graph is formed as a collection of rectangles having the same width or breadth placed successively at equal distance. Practically, the height of each bar placed vertically represents the value of the variable on the identical class interval shown horizontally.

Usually, these bars are placed either vertically on the horizontal axis or horizontally on the vertical axis and they are thus known as vertical bar chart or horizontal bar chart. Conventionally vertical bar charts are formed with the time series data.

Actually speaking, no formal rule as to how much space to be given in between the two bars is there. If necessary, no space in between two bars can be given. In some other cases, suitable and reasonable gaps in-between two bars may also be allowed.