All Terrain Thinking

A Compendium of things I think are Important

Economics: It's not just whats' in your wallet

Data Analysis Questions of the Day
Data Analysis

1. Develop a 'story' to go with each of the following diagrams.

 

2 Develop a diagram to go with each of the following 'stories':

• a. Percentage of the population supporting education rises to mid age and then begins to decline
• b. One's grade on the exam tends to improve with hours studied, but the 'rate' of improvement tends to decline after 10 hours
• c Max's Market sales for the next 12 months assuming that sales are currently $200,000 per month and will increase $2,000 per month for each of the next 12 months.
• d Max's Market sales for the next 12 months assuming that sales are currently $200,000 per month and will increase 1 percent per month for each of the next 12 months.

3. Election season is always a wonderful time to watch for outrageous claims and counterclaims. Tell me how you feel about the claim made by an incumbent that during her eight years in office the unemployment rate has fallen substantially. Are you ready to accept this as evidence that the economy has done well under the incumbent?

4. Recently a study was conducted to determine the extent to which the drug Ansylium could lower the level of chemical X in one's blood. The producer of Ansylium, in a recent advertisement, presented the graph below as evidence of the success of Ansylium as a treatment for high blood levels of chemical X. What do you believe? Is this conclusive evidence of Ansylium's success? Are you ready to buy into the claim?

Chemical X

5. You have heard much about the plight of the American worker, how the average earnings for workers in this country are falling. But what is the story? Do you buy into the story after you see the graph below. It is pretty clear that average wages have been rising since the end of WWII.

 

 

 

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