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Answer» Graph: - A pictorial representation of observed data is called a graph.
- A graph is drawn for statistical information which is not self-explanatory. In other words, the graph can neither be created nor be understood by people who do not have thorough knowledge of statistics.
- A graph is drawn for data having continuous frequency distribution. For example,
- Classification of people into various groups based on their incomes
- Division of students on the basis of their marks, etc.
Example of continuous data: | Income of people per month (in Rs.) | Number of people earning the income (Frequency) | | 10,000 – 20,000 | 500 | | 20,000 – 30,000 | 300 | | 50,000 – 1,00,000 | 100 |
Generally, continuous data is bigger in size and complex in nature. Hence, statistical tools are used to analyze, classify and simplify it. - A graph is generally drawn on a graph paper. A graph can extend over one or more of the four quadrants obtained by the intersection of ‘X’ and ‘Y’ axis on a plane. Moreover, it cannot be drawn without taking appropriate measurements.
- Graphs are used more by researchers and in higher education.
- Graphs are not used or published for general public. They are created by researchers for their data analysis and understanding purposes only.
Types of graphs: Important graphs used in economic study are: - Time-series graphs
- Graphs for continuous frequency distribution
- Histogram
- Frequency polygon
- Frequency curve
- Cumulative frequency polygon
- Graphs for logarithmic data
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