economics/
presentation-of-data

CLASS 11-COMMERCE . ECONOMICS . STATISTICS FOR ECONOMICS . PRESENTATION OF-DATA

Chapter 4 : Presentation of Data

Ch 4

ECONOMICS

CLASS 11-COMMERCE

Presentation of Data

Presentation of data is a fundamental aspect of statistics that involves organizing and displaying data in a clear and concise manner to facilitate understanding and analysis.

Objectives of Tabulation

  • To clarify the object of investigation.
  • To clarify the characteristics of data.
  • To present the data in the minimum space.
  • To facilitate statistical processes.
  • To find out errors in the collection of data.

Advantages of Tabulation

  • Simplifies facts for easy comprehension.
  • Economical use of space.
  • Attractive presentation of data.
  • Other benefits such as ease of comparison and analysis.

Main Parts of a Table

  • Table number
  • Heading or title
  • Captions
  • Stubs
  • Main body of the table
  • Ruling and spacing
  • Foot-notes
  • Arrangement or adjustment of items
  • Source of data
  • Averages and totals
  • Unit of measurement

Types of Tables

(a) On the basis of purpose:

  • General purpose
  • Special purpose

(b) On the basis of originality:

  • Original table
  • Derived table

(c) On the basis of construction:

  • Simple table
  • Complex table:
    • Two-way table
    • Manifold fold table

General Rules for Tabulation

  • Proper demonstration of main points of the body according to the objective.
  • Manageable size and clarity.
  • Approximation and unit consistency.
  • Adherence to other tabulation laws.

Essentials of a Good Table

  • Attractive: Contains all relevant details and is visually appealing.
  • Clarity: Clear and easy to read with logically organized information.
  • Simplicity: Not too complex, easy to understand.
  • Accuracy: Based on valid data and reliable sources.
  • Consistency & Scientifically Prepared: Uniform formatting and design.
  • Completeness: Includes all relevant information needed by the reader.
  • Relevance: Supports the purpose of the document and topic.

Diagrammatic Presentation of Data: Bar Diagrams and Pie Diagrams

Diagrammatic presentation is a visual method of presenting data to highlight its salient features effectively.

Advantages of Diagrams

  • Attractive and impressive visual appeal.
  • Make data simple and understandable.
  • Facilitate comparative study.
  • Save time and money.
  • Universal utility across fields.
  • Helpful in forecasting trends.

Limitations of Diagrammatic Presentation

  • Quantitative precision is not possible.
  • Small differences in values are hard to represent.
  • Cannot represent manifold information simultaneously.
  • Prone to misuse or misinterpretation.
  • Diagrams are means to an end, not the end themselves.
  • Require precautions and experience to construct accurately.
  • Limited accuracy.
  • Useful mainly for comparative studies.
  • Not suitable for future analysis.

General Rules for Constructing Diagrams

  • Attractiveness
  • Accuracy
  • Appropriate size
  • Clear heading
  • Proper scale
  • Neat drawing
  • Index or legend
  • Correct method selection
  • Effective presentation
  • Economy in design

Bar Diagram

Bar diagrams present data using bars or rectangles, where the length or height of the bar is proportional to the value of the data.

Types of Bar Diagrams

  • Simple Bar Diagram: Based on a single set of numerical data.
  • Double or Multiple Bar Diagram: Used to present two or more attributes related to time or space.
  • Sub-Divided Bar Diagram: Bars divided into parts proportional to data values; the whole bar represents the total.
  • Percentage Sub-Divided Bar Diagram: Shows parts of data as percentages of the total bar length, which represents 100%.

Pie Diagram

A pie diagram is a circle divided into segments representing percentage values of a data series. It shows relative proportions but not absolute values.

Frequency Diagrams: Histogram, Polygon and Ogive

Graphs of Frequency Distribution are graphical presentations of frequency data to visualize distribution patterns.

Frequency Histogram

A histogram is a graphical representation of a frequency distribution for continuous data with equal class intervals. If intervals are unequal, adjustments are necessary.

Frequency Polygon

A frequency polygon is formed by connecting the midpoints of the tops of the histogram bars with straight lines, showing the shape of the distribution.

Frequency Curve

A frequency curve is a smooth curve drawn by joining the points of a frequency polygon freehand, representing the distribution continuously.

Ogive

An ogive is a cumulative frequency curve plotted to show the cumulative frequencies against class boundaries. There are two types: less than ogive and more than ogive.

Arithmetic Line Graphs: Time Series Graphs

Line Graphs or Time Series represent statistical data changing over time. When plotted on graph paper, they are called time series graphs or algebraic line graphs.

Merits of Graphic Presentation

  • Attractive, interesting, and impressive.
  • No advanced mathematical knowledge required.
  • Simplest method of presenting data.
  • Facilitates easy comparison.
  • Allows determination of certain statistical measures.
  • No special training needed.

General Rules for Constructing a Graph

  • Clear and descriptive title.
  • Proper structural framework.
  • Proportionate axes.
  • Appropriate choice of scale.
  • Use of false baseline if necessary.
  • Use of linear or logarithmic scale.
  • Include data table along with the graph.
  • Correct impression and clarity.
  • Index or legend.
  • Source of data.

Limitations

  • Accuracy cannot always be verified.
  • May be illogical or misleading if not constructed properly.
  • Cannot present detailed information adequately.

One Variable Graphs

Graphs showing the value of a single variable over time.

Two or More Variable Graphs

Graphs showing two or more dependent variables plotted against time.

False Base Line

The vertical axis should start from zero; however, sometimes the scale between zero and the smallest value is omitted to enhance clarity. This omitted portion is called the false base line.

Key Words

  • Statistical Data: Data used to reach sound conclusions by providing information.
  • Primary Data: Data collected for the first time; original in character.
  • Secondary Data: Data previously collected by others, available in journals, periodicals, official records, etc.
  • Universe: The entire group or population under study, also called census.
  • Sample: A representative subset of the universe selected for detailed study.
  • Classification: Process of arranging data into groups based on common characteristics.
  • Variable: A characteristic that varies among individuals, items, places, or time.
  • Raw Data: Unorganized, original data collected.
  • Statistical Series: Data arranged in classes according to a given order.
  • Tabulation: Systematic presentation of data in rows and columns.

ECONOMICS — ALL CHAPTERS

1

Introduction

2

Theory of Consumer Behaviour

3

Production And Costs

4

The Theory Of The Firm Under Perfect Competition

5

Market Equilibrium

1

Introduction

2

Collection of Data

3

Organizing of Data

4

Presentation of Data

5

Measures of Central Tendency

6

Correlation

7

Index Numbers

8

Use of Statistical Tools