QRB501 QRB/501 DQs Week 3

1.Why are graphs and charts used to represent information? What distinguishes a histogram from a bar chart? What are some examples of grouped and ungrouped data? What would be the most appropriate graphical representation to show the dispersion of new home prices in a particular area? Why?  Please ensure that your initial post is at least 200 to 300 words and that you support all assertions or claims with references to the Sevilla text or other peer-reviewed source.

 2.Break-even calculations, scatter plots used in estimating demand, and trends in revenue are examples of data that can be simplified to a straight line. This is useful, but sometimes these data are more complex. They may form a curved line, or instead of there being only one item for the slope, such as with variable costs, there may be several factors involved in the estimate. Demand, for example, may be based on price, convenience, and quality. How does a linear regression allow you to better estimate trends, costs, and other factors in complex situations?  Please ensure that your initial post is at least 200 to 300 words and that you support all assertions or claims with references to the Sevilla text or other peer-reviewed source.