/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q. 2.167 The Federal Reserve System publi... [FREE SOLUTION] | 91影视

91影视

Log out

Learning Materials

Features

Discover

Chapter 2: Q. 2.167 (page 86)

The Federal Reserve System publishes weekly figures for M2 money supply in the document Money Stock Measures. M2 includes such things as cash in circulation, deposits in checking accounts, nonbank traveller's checks, accounts such as savings deposits, and money-market mutual funds. The following bar chart provides data on the M2 money supply over 3months during one year.

a. What is wrong with the bar chart?

b. Construct a version of the bar chart with a nontruncated and unmodified vertical axis.

c. Construct a version of the bar chart in which the vertical axis is modified in an acceptable manner.

Short Answer

Expert verified

(a) The wrong with the chart is that bars do not start at 0

(b)

(c)

Step by step solution

01

Part (a) Step 1: Given information

The given data is

02

Part (a) Step 2: Explanation

A bar chart, sometimes known as a bar graph, is a graph or chart that displays categorical data using rectangular bars with heights or lengths proportional to the values they represent.

The wrong with the chart is that bars do not starts at 0.

03

Part (b) Step 1: Given information

The given data is

04

Part (b) Step 2: Explanation

The y axis of a truncated graph does not begin at 0. These graphs might provide the impression of significant change when there is actually very little. While shortened graphs can be useful for overdrawing differences or saving space, they are frequently avoided.

For the chart with untruncated and unmodified vertical axis the bar now should start with 0. So,

05

Part (c) Step 1: Given information

The given data is

06

Part (c) Step 2: Explanation

For the chart with modified vertical axis the bar now should start at 0and //should represent in place of truncation.

So, the graph will be :

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Body Temperature. A study by researchers at the University of Maryland addressed the question of whether the mean body temperature of humans is 98.6~F. The results of the study by P. Mackowiak et al. appeared in the article " A Critical Appraisal of 98.6F, the Upper Limit of the Normal Body Temperature, and Other Legacies of Carl Reinhold August Wunderlich" (Journal of the American Medical Association, Vol. 268, pp. 1578-1580). Among other data, the researchers obtained the body temperatures of 93 healthy humans, as provided on the Weists state site.

a. use the technology of your choice to identify the modality and symmetry (or non-symmetry) of the distribution of the data set.

b. if unimodal, classify the distribution as symmetric right-skewed. or left-skewed.

Recording Industry Statistics. The Recording Industry Association of America (RIAA) reports annual statistics on shipments and revenues. For the year 2012, RIAA reported the following data on physical shipments. [SOURCE: Year.End industry Shipment and Revenue Statistics. Published by RIAA, (c) 2012.]

Identify the type of data provided by the information in each of the following columns of the table:

a. first b. second c. third

Baltimore Ravens. From Player Roster, the official roster of the 2013 Super Bowl champion Baltimore Ravens, we obtained the heights, in inches, of the players on that team. A dot plot of those heights is as follows.

The Court's Burrow. The subterranean color (Spalacopus cyan) is a social rodent that lives in large colonies in underground burrows that can reach lengths of up to 600 meters. Zoologists S. Begall and M. Gallardo studied the characteristics of the burrow systems of the subterranean color in central Chile and published their findings in the Journal of Zoology, Landen (Vol. 251, pp. 53-60). A sample of 51 burrows, whose depths were measured in centimeters, yielded the following frequency histogram.

Give one reason why constructing and reading graphs and charts carefully is important.
See all solutions

Recommended explanations on Math Textbooks

Theoretical and Mathematical Physics

Read Explanation

Decision Maths

Read Explanation

Pure Maths

Read Explanation

Applied Mathematics

Read Explanation

Probability and Statistics

Read Explanation

Statistics

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.