Economics 1 Marks Question

Textual or descriptive presentation.

In tabular presentation of data, data is presented in rows and columns.

The biggest limitation of simple bar diagrams is that they can represent only one set of numerical data.

The diagrams drawn should be simple so that even a layman can understand them clearly and quickly.

Source note is a brief statement or phrase indicating the source of data presented in the table.

In bar diagrams, only the height represents the value of the variable. Because of this, they are said to be one-dimensional diagrams.

Caption explains all the figures entered in the columns.

It is known as the body of the table.

Presentation of the frequencies in the form of histogram and joining the mid-points of histogram is known as frequency polygon.

Bar diagram comprises a group of equi-spaced and equi-width rectangular bars for each class or category of data.

Pie diagrams are difficult to make.

If the table is of complex nature, then footnotes are used to explain data which is not self-explanatory.

No, histogram cannot be drawn from inclusive series. To draw a histogram, we have to convert an inclusive series into an exclusive series.

Graphs can be broadly classified as:

1. Graphs of frequency distribution.
2. Graphs of time series.

When time period of the variables is defined.

The size of a table should be kept according to the size of the paper.

Ogive is also called a 'cumulative frequency curve’.

The frequency curve is a graphic representation of a frequency distribution obtained by drawing a smooth freehand curve passing through the points of the frequency polygon, as closely as possible.

The other name of Arithmetic Line Graph is 'Time Series Graph'.

When the data is described within the text it is called “Textual Presentation of data”.

The main objective of presentation of data is to present data in a form that helps the user to understand it easily.

Tabulation is a “systematic presentation of numerical data in rows and columns”.

A bar diagram which shows values corresponding to only one variable i.e., single set of numerical data, is known as simple bar diagram.

The total area under the frequency curve represents the total frequency.

Table number, title, head note, captions and stubs, main body, footnote and source are the main parts of a table.

Negative slope i.e., downward sloping.

Multiple bar diagram will be used to show two or more characteristics of the data.

Variable is shown on X axis and frequencies are shown on Y axis.

A simple bar chart comprises of a group of equi-spaced and equi-width rectangular bars for each class.

In the sub-divided bar diagram or component bar diagram, the bar corresponding to each phenomenon is divided into various components. Each part or component occupies a part of the bar proportional to its share in the total.

The differences between less than ogive and more than ogive are:

S. No.	Basis	Less-than Ogive	More-than Ogive
1.	Based on	Less than ogive is based on less-than frequency distribution in which frequencies are cumulated and represented against the upper limit of the class.	More-than ogive is based on more than frequency distribution in which frequencies are cumulated and represented against the lower limit of the class.
2.	Slope	It has a positive slope.	It has a negative slope.

Histogram is a two dimensional diagram. It is a graph of a frequency distribution in which the classes are plotted on the x-axis and their respective frequencies on the y-axis.

Graphical presentation helps to present data in an attractive manner which makes it interesting and attractive. Therefore, this form of presentation is extensively used by executives in board presentations.

It has been rightly said that a diagram is worth 100 words. It is easier to forget words but it is difficult to forget a diagram once seen. Diagrams have a memorizing effect on human mind. It gives a bird's eye vew of the statistical details.

An ogive is also known as 'cumulative frequency curve'. Cumulative frequencies (less than or more than basis) are plotted along the OY axis against the class limits of the frequency distribution.

The different types of graphs of frequency distribution are:

1. Line frequency graphs.
2. Histograms.
3. Frequency polygon.
4. Frequency curve.

The x co-ordinate of the point of intersection of less than and greater than cumulative frequency curve is the median.

Graphs are attractive way of presenting the information, and it is easy to understand graphs. The value of accuracy of data used and coverage of full data is very important for graphical presentation of data.

Objectives of diagrams is to:

1. Save time and energy.
2. Forecast future events.
3. Compare different items and components.
4. Make data simple and comparable.