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DQ #5 - Essay Example

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Graphs have been popular in illustrating and portraying the ideas that a writer wants to communicate. This can been seen in the prevalent usage of different types of graphs on print and even on-line. Among the types of graph given by Lind, three is most prominent in business and newspapers which include line graph, bar graph, and pie chart…
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Running Head: DISCUSSION QUESTION 5 Discussion Question 5 In APA Style By Which of these graphs do youuse or see around your business or newspaper Explain the purpose for each one identified as being used.
Graphs have been popular in illustrating and portraying the ideas that a writer wants to communicate. This can been seen in the prevalent usage of different types of graphs on print and even on-line. Among the types of graph given by Lind, three is most prominent in business and newspapers which include line graph, bar graph, and pie chart. Line graph is often use especially in illustrating the performance of a stock by plotting its daily average price. It is also utilized in order to show the movement in the prices of commodities and trends which spans a long period of time. Bar graph is often employed in displaying the revenue of a business organization in a fiscal year in comparison with the other year together with other significant financial information like P/E, net income, and gross margin. Lastly, the pie chart is important in showing the competitive position of a company against its competitors. Shares of companies in an industry are illustrated through pie chart as well as the contribution of sales among geographic locations.
Refer to Lind, misleading graphs, pp. 15-17. Find an example from the Internet (list the URL) that shows a graph or chart that is misleading.
Misleading graphs becomes a problem in portraying the real situation. This is as worse as distorting the data set as these are both done in order to exaggerate and convey wrong information to the reader. The graph on the equity market posted on Yahoo finance (http://finance.yahoo.com/marketupdate/overviewu) is an example of a misleading graph. It should be noted that the Dow and Nasdaq markets are shown in two line graphs which uses different intervals. Also, the graphs are misleading because the horizontal axes did not start at zero making the movements in composite price indices appear very large even if this is not the case. This problem can be remedied by displaying the performances of Dow and Nasdaq on one graph. Also, the horizontal axis should start at zero in order to give investors an appropriate view on the changes in composite price indices.
Feedback on Focus Group
The use of focus group can be very helpful in gathering qualitative data especially in the lifestyle of a specific market niche. However, it is also irrefutable that this type of data gathering is ineffective in securing quantitative information if most of the members are not screened and lack the credibility to give an opinion. It should be noted that if the moderator is able to screen a number of focus group members which are credible to give quantitative data, the information gathered can be considered to be reliable. For example, if the purpose of the focus group is to find the market size of a specific industry, the data gathered can already be considered accurate the members comprise for a huge chunk of the market share. For example, three market players which account for 90% of all shares. Focus group can also be used in gathering quantitative data which is too costly to obtain when using other methods which requires the use of a sample size. Market niche can be studied more closely through the use of focus group because niches are often very small compared to the whole market. Yet, if data gathering involves finding quantitative data for the whole population, this method might fall short in giving accurate information.
References
Market Overview. (2008). Yahoo Finance. Retrieved 18 February 2008, from http://finance.yahoo.com/marketupdate/overviewu Read More
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