Subject: Business Statistics
Graphs are used to represent any objects or concepts schematically. It is utilized to convert frequency distribution from a tabular form to a visual representation. The information is presented in a simple and understandable way. An example of a graph that shows continuous data is a histogram. In situations where the entire values of the data at any particular period are needed, an ogive is a graph that displays cumulative frequencies.
Diagrams are a thing's schematic depiction. It demonstrates the appearances, structure, and operation of something (which could represent any object or subject).
The graph is a diagram that depicts the relationship between two variables that are typically measured at right angles on distinct axes. We utilize various forms of graphs and diagrams to describe the frequency distribution because they are more effective visual representations of it than tables are.
Types of Graphs:
Importance of Graphs:
A histogram is a bar graph that graphically displays frequency tables. An illustration of the underlying frequency distribution (shape) of a set of continuous data is a histogram. The variable being measured in the data set makes up the horizontal axis of a histogram, and the class frequency makes up the vertical axis. A vertical bar with a height equal to the class frequency and a width equal to the class width is used to represent each data class. In project management and many other fields where data analysis is done, a histogram is a fantastic tool. A histogram gives you a quick and simple way to get the overall picture of the data since it gives you a snapshot of all the data. This is useful in business as it saves time in analysis of data.
A histogram consists of:
Scale: Represents class boundaries or class midpoints.
Vertical/horizontal bars: Show the frequencies of each class.
Steps to draw a histogram using a Frequency distribution table.
Example 1:
Let us understand histogram by this simple example where the number of black cherry trees in a garden according to their height(in feet) is given.
67,63,64,68,68,61,86,81,87,81,82,83,84,76,78,77,71,70,79,71,72,73,72,74,71,75,76,78,77,76,79
Now , at first we have to create a frequency distribution table as follows:
The numbers ranges from 61-87 which is roughly from 60-90 so we can divide this into 6 intervals of equal width 5 i.e, 60-64,65-69,70-74,75-79,80-84 and 85-89.Then we can count the number of data points which fall into each interval and create a frequency table.
Intervals | Frequency |
60-64 | 3 |
65-69 | 3 |
70-74 | 8 |
75-79 | 10 |
80-84 | 5 |
85-89 | 2 |
With the help of the above frequency table the intervals are kept in the horizontal line and their corresponding frequency on the vertical line.
The data in a frequency table is shown as a line graph in a frequency polygon.
A frequency polygon that displays cumulative frequencies is called an ogive, sometimes known as a cumulative frequency polygon. An ogive is a graph in which the y-axis represents cumulative frequency and the x-axis represents class boundaries. Usually, making an ogive from a frequency table is simpler. At the lower limit of the first class, Ogive always starts on the left with a cumulative frequency of zero. The cumulative frequency at the upper-limit of the last class should equal the total sample size at the right-hand end of the ogive. When you want to display the total values of data at any particular time, Ogive is utilized.
Types of Ogive:
Steps to draw an ogive curve using a frequency distribution table:
Example 2:
Marks obtained by the students of a class in statistics test are :
Marks | 0 – 10 | 10 – 20 | 20 – 30 | 30 – 40 | 40 – 50 |
Number of students | 4 | 8 | 18 | 15 | 5 |
Draw ‘less than’ and ‘more than’ ogives.
Solutions: First, the ‘less than and ‘more than’ cumulative frequencies will be calculated and the ogives will be drawn on the basis of these cumulative frequencies.
Calculation Of Cumulative Frequencies:
Marks | Frequency | ‘Less than’ Cumulative Frequency | ‘More than’ Cumulative Frequency |
0 – 10
10 – 20 20 – 30 30 – 40 40 – 50 |
4
8 18 15 5 |
4
12 30 45 50 |
50
46 38 20 5 |
Refrences:
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