Economics 4 Marks Question

General rules to construct a time Series graph
a. Since time can never be in negative values, II and III quadrant are not used in making of time series graphs.
b. Time period (week, Month, Year) is taken on X- Axis. And Variable under study is taken on Y-Axis.
c. We start Y axis with Zero and decide the scales for both the axis.
d. Different values are plotted on the graph.
e. By joining these points, we get a time series graph.
Time series graph can be of three types:
a. One Variable Graph.
b. Two or more than two variable Graph.
c. When False Base Line is used.
d. Graphs of Different Units.

Usually, when we draw any graph, the scale on which the graph is measured starts from zero on the y-axis. However, under the situations when the data to be plotted on graph starts from a value which is far above zero, results in the problem of shortage of space on graph. To overcome this problem of shortage of space, a false baseline is plotted. False base line is a line which is drawn to grasp the attention of the reader on the fluctuations which usually remains unnoticed. Graphical Presentation

i. Quantitative classification: In quantitative classification the data are classified according to some characteristics that can be measured numerically such as height, weight, production, income, marks secured by the students etc. Example: Students of a college may be classified according to there weights as given in the table

Weight (in Kg)	No of students
30-40	20
40-50	25
50-60	40
60-70	45

ii. Qualitative classification: In qualitative classification, the data are classified on the basis of attributes or quality such as sex, colour of hair, literacy, religion etc.