Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsEconomics : An Introduction3 Marks
Question
What care should ne taken while plotting statistical information in to the graph?
✓
Answer
The base of principles, conclusions or suggestions are the source statistical information and it will be represent through diagram or graph.
To represent the statistical information effectively following matters should be taken in to consideration.
Reliable Source:
To economic principles or conclusions are made on the reliable basis and generally known to all.
To specify the things which source is used should be mentioned.
E.g. To show the economic condition or status, Central Statistical Organisation $(CSO)$, National Sample Survey or Data of World Bank are consider more reliable source in India.
Independent and dependent variable:
To represent the two or more variable on graph independent variable on horizontal axis $(X-$axis$)$ and dependent variable an vertical axis $(Y-$axis$)$ should be plotted.
E.g.: Country, year, rain are independent variable, should be plotted on $‘X’$ axis, while production, import, economic development are dependent variable should be plotted an $‘Y’$ axis.
But should be noted that in the law of demand now a days it’s trend to show the Price of causeful factor on $‘Y’$ axis and dependent factor on $’X’$ axis.
Selection of Scale-measurement :
To show the figures appropriately, scale measure must be appropriate.
Graph should not be too large or too small.
E.g. If matters are related to time then the interval of $10$ years can be use.
The measure use at once should be maintains throughout the study.
E.g. : One inch. $= 10$ year, then to show the gap of $10$ years measure of one inch should be maintain.
Others:
If variable at $Y$ axis are represented through numbers or percentage, then it is more convenient for the comparison of the analysis.
For the same kind of information graph or chart is more suitable.
Where as for the comparative analysis grouped multiple bar graph are used more.
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