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Each person in a nationally representative sample of 1252 young adults age 23 to 28 years old was asked how they viewed their "financial physique" ("2009 Young Adults \& Money Survey Findings," Charles Schwab, 2009). "Toned and fit" was chosen by \(18 \%\) of the respondents, while \(55 \%\) responded "a little bit flabby," and \(27 \%\) responded "seriously out of shape." Summarize this information in a pie chart.

Short Answer

Expert verified
To summarize this information on a pie chart, you first convert percentage to degrees for each category: 'toned and fit' is \(64.8^{\circ}\), 'a little bit flabby' is \(198^{\circ}\) and 'seriously out of shape' is \(97.2^{\circ}\). Draw a circle and use the calculated degrees to draw sectors. Label each sector with the associated 'financial physique' category and their corresponding percentage.

Step by step solution

01

Convert the percentages to degrees

You start by noting that full circle in a pie chart represents 100\% or 360 degrees. To convert the given percentages to the equivalent in degrees suitable for the pie chart, you multiply the given percent by 360, then divide by 100. Here is how you can go about it: For the 'toned and fit' category: \(18 \% \times 360 / 100 = 64.8^{\circ}\)For the 'a little bit flabby' category: \(55 \% \times 360 / 100 = 198^{\circ}\)For the 'seriously out of shape' category: \(27 \% \times 360 / 100 = 97.2^{\circ}\)
02

Draw the pie chart

Next, grab a circle graph paper, a ruler, and a protractor. Draw a circle to represent the entire population of the representative sample. Then, using the protractor, you draw sectors in the circle to represent each financial physique category. Each sector will correspond to the degree obtained in step 1.
03

Label the Pie Chart

Finally, make sure to label each sector of the pie chart with the respective categories (toned and fit, a little bit flabby, and seriously out of shape) and the respective percentages they represent.

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Percentages to Degrees Conversion
When creating a pie chart, it’s crucial to know how to convert percentages into degrees. Since a full pie chart represents a circle, it contains 360 degrees. To find out how much of that circle each percentage takes up, you multiply the percentage by 360, then divide by 100.

For example, if 18% of survey respondents feel financially "toned and fit," you calculate the degree of the pie chart slice by:
  • First, multiply 18 by 360.
  • Then, divide by 100.
  • This gives us the result: \(18 \times 360 / 100 = 64.8^{\circ}\).
This same method applies to any percentage you need to represent in your pie chart.

Using this conversion makes sure that each slice of the pie chart correctly displays the proportion each category represents out of the whole.
Financial Survey Representation
In a financial survey like the one presented here, the goal is to summarize responses in a clear and visual way. The sample here includes 1,252 young adults between 23 and 28 years of age, who were asked about their "financial physique." The options like "toned and fit," "a little bit flabby," and "seriously out of shape" help categorize how users view their financial health.

Pie charts are particularly useful as they allow viewers to quickly grasp the percentage distribution of responses—providing an immediate understanding of how the group sees its financial status. For example:
  • "Toned and fit" was chosen by 18% of people, which is less than one-fifth of the whole group.
  • "A little bit flabby" accounted for a much larger 55%.
  • Meanwhile, 27% of participants saw themselves as "seriously out of shape."
This visualization conveys not only the data collected but also offers insights into the majority opinion of the sample.
Categorical Data Visualization
Visualizing categorical data in the form of a pie chart harnesses the power of simplicity. It takes complex survey results, such as varied responses from 1,252 individuals, and turns them into a simple visual story. Each category in the data is represented by a slice, with its size correlating directly to the proportion it represents.

As you can see in our example, the pie chart visually segments the categories "toned and fit," "a little bit flabby," and "seriously out of shape." With sectors sized at 64.8, 198, and 97.2 degrees respectively, each slice visually communicates its part of the whole.
  • This format allows for easy comparison: it’s simple to see which category dominates or is smaller.
  • Moreover, labels are crucial—they provide qualitative context, ensuring each slice’s meaning is clearly understood.
Thus, pie charts offer an efficient and immediate way to make sense of categorical data, making them a preferred tool in both academic and business settings for their visual clarity and immediate data delivery.

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