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Mini Project - Term Paper Example

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Graphs are statistical tools that reveal the relationship between two or more research variables, each measured with and plotted along an axis at right angles. Graphs take different types and shapes depending on the researchers’ objective and the type of data being presented…
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Mini Project
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"Mini Project"

Download file to see previous pages The paper points two uses of graphs that are reflected in one of the business periodicals and their effectiveness.
First, an article from the Wall Street Journal dated 1st April that was written by Prince Marcelo reflected on the amount of gas and oil that comes from fracking in US. The graph points the trend of oil fracking as compared to the total oil and gas production from 2005 to 2015. Prince, (2015) makes use of a line graph to present the information that clearly shows that energy production from oil and gases has been increasing annually, same as the energy from fracking.
The above graph is effective tool in revealing the current issue in the energy sector within the use of fracking technology. The black shaded area depicts the fracking amounts while the red one shows the total amounts of oil and gas production in US. It is clear that fracking has contributed to a larger percentage of both gas and oil production as opposed to the other sources of these two energy platforms. Additionally, the graph depicts the amounts (in estimate) of oil and gas every year, as well as, the periods that the trends revealed a sharp decrease or increase. Nevertheless, the difference or the ratio of the fracking to the total amounts can be easily calculated from the graph. Lastly, the mean or averages of the fracking amounts can be easily calculated; therefore, the graph shows the descriptive statistics for the data that can be highlighted without any struggle.
Another graph reflects the US quarterly GDP growth from 2012 to 2016. The article was posted by the Fed on 1st May 2015 and has forecasted the GDP growth rate of the US economy from 2012 to 2016. It shows the past GDP growth rates from 2012, the current rates and from these rates Fed can forecast the growth rates for the last quarter of 2015 and 2016. Therefore, the bar graph is effective tool that can be used in forecasting data for future use. This ...Download file to see next pagesRead More
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