Business Statistics

Chapter 2 | Charts and Graphs 61

To arrive at any conclusion, a decision maker has to rst arrange the

data in proper order. To do this, he has to rely on popular statistical

tools such as frequency distribution, relative frequencies, cumulative

frequencies, to convert ungrouped data into grouped data.

When we simply want to convey the trend of a data, graphical pre-

sentation of the data seems to be appropriate. Some basic and most

widely used methods of presenting data in graphs are presented in

this chapter. These are bar chart, pie chart, histogram, frequency

polygon, ogive, stem-and-leaf plot, and Pareto chart. A bar chart is a ...