The graph is a tool to represent a series of data by means of a visual instrument. In this way, an attempt is made to illustrate, among others, the relationship between statistical variables or their evolution over time.

The graph, in other words, is a way of summarizing, in an image, information collected in a statistical study or database.

This type of visual tool complements the analysis and allows the receiver to better understand the conclusions of a specific survey or study.

For example, it is much easier to understand how pronounced the economic growth of a country has been if it is observed in a linear graph (we will explain later what this resource consists of).

Chart types

The main types of graph are the following:

  • Line graph: It allows to represent, through two axes, the evolution of a variable over time. Thus, the vertical axis corresponds to the value of the variable and the horizontal axis, a certain period.
  • Bar graph: It is a graph where each category corresponds to a bar, so that the higher the data frequency, the longer the bar will be. It should be noted that they can be horizontal or vertical bars.

It should be noted that, in the financial sphere, the bar chart refers to another type of tool where, to each period, a bar corresponds (which includes the maximum and minimum of the price of a stock market asset). Let's look at the following case:

Bar graphic

To better understand the example visit the article: bar chart.

  • Histogram: It is a graph where bars or rectangles are used, the height of which will depend on the frequency of the data, which corresponds to the Y axis. Meanwhile, on the X axis we can observe the study variable.

It should be noted that the histogram is constructed, mostly, when the study variable (that of the horizontal axis) is quantitative. On the other hand, if it were qualitative, a bar diagram or a pie chart would preferably be elaborated. This, taking into account that the horizontal axis of the histogram contains intervals of continuous variables, such as height or age, and not discrete values, such as eye color or the profession of the individual (a person cannot have eyes a 60% black).

  • Pie chart: Also known as a pie chart or pie chart. It is characterized by being a circle or cake that is divided into pieces of different sizes, which will depend on the frequency of data in the category. Thus, the segment with the most frequency will occupy a greater part of the graph. It is usually used to illustrate the relative weight of the categories over the total.

Tags:  comparisons USA Colombia 

Interesting Articles