Chapter 2: Graphs, Charts, and Tables--Describing Your Data

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80 CHAPTER 2 • GRAPHS, CHARTS, AND TABLES—DESCRIBING YOUR DATA a. Produce a line plot of the profit versus the year. b. Describe the types of relationship that exist between years and profits during the specified time period. c. Which of the relationships would you use to project the companies’ profits in the year 2006? Explain your answer. Computer Database Exercises 2-55. Major League Baseball is played in 30 North American cities, including Toronto, Canada. Having a team in a city is generally considered to provide an economic boost to the community. Although winning is the stated goal for all teams, the business side of baseball has to do with attendance. The data file MLB Attendance -2005 contains data for both home and road game attendance for all 30 MLB teams for 2005. Of interest is the relationship between average home attendance and average road attendance. Using the 2005 attendance data, construct the appropriate graph to help determine the relationship between these two variables and discuss the implications of the graph. 2-56. In the October 17, 2005 issue of Fortune, a special advertising section focused on private jets. Included in the section was an article about “fractional” jet ownership, where wealthy individuals and also companies share ownership in private jets. The idea is that the expensive airplanes can be better utilized if more than one individual or company has an ownership stake. AvData, Inc. provided data showing the number of fractional ownerships since 1986. These data are in the file called JetOwnership. Using these data, develop a line chart that displays the trend in fractional ownership between 1986 and 2004. Discuss. 2-57. In 2005, a chain of events, including the war in Iraq and hurricane Katrina, lead to a sharp increase in fuel costs. As a result, the U.S. airline industry has been hit hard financially. Some airlines are substituting smaller planes on certain routes in an attempt to reduce fuel costs. As an analyst for one of the major airlines, you have been asked to analyze the relationship between passenger capacity and fuel consumption per hour. Data for 19 commonly flown planes is presented in the file called Airplanes. Develop the appropriate graph to illustrate the relationship between fuel consumption per hour and passenger capacity. Discuss. 2-58. Japolli Bakery tracks sales of its different bread products on a daily basis. The following data show sales for 22 consecutive days at one of its retail outlets in Nashville. Develop a line chart that displays these data. The data are also located in a data file called Japolli Bakery. Discuss what, if any, conclusions you might be able to reach from the line chart. Day of Week White Wheat Multigrain Black Cinnamon Raisin Sourdough French Light Oat Friday 436 456 417 311 95 96 224 Saturday 653 571 557 416 129 140 224 Sunday 496 490 403 351 114 108 228 Monday 786 611 570 473 165 148 304 Tuesday 547 474 424 365 144 104 256 Wednesday 513 443 380 317 100 92 180 Thursday 817 669 622 518 181 152 308 Friday 375 390 299 256 124 88 172 Saturday 700 678 564 463 173 136 248 Sunday 597 502 457 383 140 144 312 Monday 536 530 428 360 135 112 356 Tuesday 875 703 605 549 201 188 356 Wednesday 421 433 336 312 100 104 224 Thursday 667 576 541 438 152 144 304 Friday 506 461 406 342 135 116 264 Saturday 470 352 377 266 84 92 172 Sunday 748 643 599 425 153 148 316 Monday 376 367 310 279 128 104 208 Tuesday 704 646 586 426 174 160 264 Wednesday 591 504 408 349 140 120 276 Thursday 564 497 415 348 107 120 212 Friday 817 673 644 492 200 180 348
CHAPTER 2 • GRAPHS, CHARTS, AND TABLES—DESCRIBING YOUR DATA 81 2-59. Federal flood insurance underwritten by the federal government was initiated in 1968. This federal flood insurance coverage has, according to USA Today (“How you pay for people to build in flood zones,” September 21, 2005), more than tripled in the past 15 years. A file entitled Flood contains the amount of federal flood insurance coverage for each of the years from 1990 to 2004. a. Produce a line plot for these data. b. Describe the type of relationship between the year and the amount of federal flood insurance. c. Determine the average increase per year in federal flood insurance. 2-60. The Office of Management and Budget keeps data on many facets of corporations. One item that has become a matter of concern in the number of applications for patents submitted compared to the backlog of applications that have not been processed by the end of the year. A file entitled Patent provides data extracted from a USA Today article (Kevin Maney, “Patent applications so abundant that examiners can’t catch up,” September 21, 2005) that addresses the problem. a. Construct the two line plots on the same axes. b. Determine the types of relationship that exist between the years and the two patent-related variables. c. During which year(s) did the backlog of applications at the end of year equal approximately the same number of patent applications? 2-61. Energy prices have been a major source of economic and political debate in the United States and around the world. Consumers have seen gasoline prices at the pump rise and the impact of fuel prices has been blamed for economic problems in the United States at different points in time. The following data (also found in the file called Gasoline Prices) reflect the average price of regular unleaded gasoline in the state of California for the years between 1970 and 2005. The first price column is the actual average price of gasoline during each of those years. The second column is the average price adjusted for inflation, with 2005 being the base year. (Note, for each year prior to 2005, the average gasoline price is adjusted downward to reflect the inflation adjustment compared to the base year of 2005.) a. Construct an appropriate chart showing the actual average price of gasoline in California over the years between 1970 and 2005. b. Add to the graph developed in part a the data for the adjusted gasoline prices. c. Based on this graph from part b, what conclusions might be reached about the price of gasoline over the years between 1970 and 2005? Actual Inflation Adjusted Year Average Price Price (Base Year 2005) 1970 $0.34 $1.36 1971 $0.36 $1.36 1972 $0.35 $1.27 1973 $0.39 $1.38 1974 $0.53 $1.67 1975 $0.59 $1.69 1976 $0.61 $1.67 1977 $0.65 $1.66 1978 $0.65 $1.57 1979 $0.90 $1.98 1980 $1.23 $2.49 1981 $1.35 $2.50 1982 $1.25 $2.18 1983 $1.12 $1.88 1984 $1.13 $1.83 1985 $1.11 $1.75 1986 $0.87 $1.35 1987 $0.89 $1.33 1988 $0.90 $1.31 1989 $0.97 $1.36 1990 $1.09 $1.47 1991 $1.15 $1.50 1992 $1.10 $1.40 1993 $1.22 $1.52 1994 $1.21 $1.47 1995 $1.23 $1.47 1996 $1.32 $1.54 1997 $1.33 $1.53 1998 $1.16 $1.32 1999 $1.36 $1.53 2000 $1.66 $1.82 2001 $1.64 $1.75 2002 $1.51 $1.60 2003 $1.83 $1.90 2004 $2.12 $2.15 2005 $2.39 $2.39 Source: The California Energy Commission, September 2005 2-62. Existing-home sales rose in August of 2005 to the second-highest pace on record, with strong price gains in a market of tight supply, according to the National Association of Realtors ® (Walter Molony and Lucien Salvant, “Existing Home Sales Second Highest on Record,” September 26, 2005). A file entitled EHSales contains the number of existing homes sold (millions) from August of 2004 to August 2005.
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