Module 3: Visualization Techniques

Question 1

What is a ‘bar plot’?

Answer 1

• Its a chart used to compare values of a small number of observations
• X - axis represents the observations
• Y axis represents their values characcterised by the height of the bar

Question 2

What can bar plots also allow us to do?

Answer 2

• Analyze th evolution of a small number of observations

Question 3

What is a ‘comovement’?

Answer 3

-Its a term used to describe the observed relationship between two series

Question 4

What does a positive co-movement mean?

Answer 4

• It means the two series are moving in the same direction on average

Question 5

What does a negative co-movement mean?

Answer 5

• It means the two series are moving in opposite directions on average

Question 6

What should I remember about co-movements?

Answer 6

• Just because their is co-movement does not imply an actual relationship exists.

Question 7

What does a histogram mean?

Answer 7

• Its a particular bar chart that illustrates the distribution of a series or a variable
• The range of the series (min-max) is divided into intervals and the height of the bae corresponds to the number of observations included in each interval.
• The Y axis shows the number of observattions that we have in each intrval represented by the bas eof the rectangle

Question 8

What is a line chart?

Answer 8

• This is a graph that presents a successive (sequence) of observations connected by lines.

A line chart is typically used to show the evolution of a sries through time.

• The x axis represnts the time
• The y-axis represents the value of the observatis and the points connected by the line

Question 9

What does a relationship mean?

Answer 9

It describes the link between two variables

Question 10

What does an indirect/direct relationship mean?

Answer 10

• A direct realtion means if one variable is causing the other
• An indirect relationship is if ne variable is causing the other through a third variable

Question 11

Whats an example of a direct and indirect relationship?

Answer 11

Direct - co2 emission is causing global warmig
Indirect - Is when theres cold weather comes causes snow and people buy shovels

Question 12

What does a scatter plot mean?

Answer 12

• Its a chart used to illsurate comovement between two series
• The x axis represents the values of one series
• The y axis represents the value of another series

-The points are not usually connected by lines

Question 13

What is co-movement?

Answer 13

• Its an observed reltionship
• Its not a direct or indirect relationship as it this implicates that their linked together

Question 14

What does ‘short term fluctuations’ mean?

Answer 14

• This is the behavior of series over shorter periods of time
• How we define it as movement of a series over a few months, quarter or years

Question 15

What is trending behavior?

Answer 15

• This is the behavior of a series on average over a long period of time
• Long period indicates the period spanned by our dataset
• A positive trend indicates the series is increasing on average over the period
• A negative trend indicates that the series is decreasing on average over the period.

Question 16

What does ‘volitaty’ mean?

Answer 16

• This term describes the intensity of the short ter flucutations

Question 17

What happens if two series have the same measurement units + scale?

Answer 17

• If one fluctuates higher than the other we cannot compare the volitaty of two series with different measurement units and scales

Question 18

What is a time series chart?

Answer 18

• this is a graph that is in chronilogical order
• The x axis represents time

Question 19

What is trending behavior?

Answer 19

• Its when we discuss the overall evolution of a time series

Question 20

How do we interpret the evolution of two or more time series?

Answer 20

One way is to combine multiple time series on the same graph

• To do this it must have comparable scales and similar units

Question 21

What to do if the scales are not simialr

Answer 21

One way is to have two y-axis on each side of the graph with different scales (not an option in this course)

Question 22

What kind of information does the difference in logs carry?

Answer 22

It carries and shows how the growth rate is changing through time

Question 23

What is an easier way to analyze the evolution of growth rates

Answer 23

• Is to express the variable in log

Question 24

Can some scatter plots be connected by points

Answer 24

YES!!!

Question 25

Whats the purpose to connect points?

Answer 25

Its to add a time dimentsion to the graph

Question 26

What is the mode?

Answer 26

Its the interval with the highest number of observatiosns

Question 27

What is the level of uniformity?

Answer 27

A dsitribution is in uniform if all heights of the bars are the same

Question 28

What is the degree of symmetry?

Answer 28

A distribution of symmetry is if the left side of its mode is the mirror image of the right

Question 29

What is right skewed/left - skewed?

Answer 29

Left skweded --> means longer left tail Right --> longer right tail

Question 30

How to create a line chart?

Answer 30

1. Create a seprate clean sheet and click the line chart icon in the first column second row 2. Click Select data and in the chart data range enter data needed (use ctrl to click multiple seprate columns) 3. Year and The data

Question 31

How to change the title of the line chart?

Answer 31

1. Select the chart 2. Select add chart element from the design menu 3. go to axis title 4. Hit primarily horzintial For the y-axis --> follow same process but select primary vertical

Question 32

Howto change format of the chart

Answer 32

1. Go to deigns 2. Hit format selection --> format menu

Question 33

How to change date format (reduce number of dates)

Answer 33

1. Go to chart options 2. Select horizontial axis 3. Axis options 4. go to number 5. To change just to year use the format code

Question 34

How to change the dates position

Answer 34

1. Go to labels 2. You should see position necr to axis (change it to low)

Question 36

How to add a horizontial line to the graph?

Answer 36

1. Go to data table and add a column full of 0's 2. Add it to the graph

Question 37

how to change colour of lines

Answer 37

1. Go to desing 2. Select change colours

Question 38

How to add a legend?

Answer 38

1. Add chart element 2. Design 3. Select legend

Question 39

How to merge two tables into one

Answer 39

1. its to add the column at the end of one of the tables datasets

Question 40

How to resitrict the scales?

Answer 40

1. Go to format menu 2. Go to axis options 3. Make a max and min

Question 41

How to create a histogram?

Answer 41

1. Select data from the design menu 2. Add data same way

Question 42

How to create a bar plot

Answer 42

1. Select the bar graph icon 2. Select data and add years 3.