HELP?!!? You’ve been hired to help a car company with analyzing sale trends to help them with figuring out what direction development of new products should go. Due to rising fuel costs the industry is seeing a rise in people purchasing compact cars, but the kind of features and thus price people are targeting is less clear.
Based on your initial analysis the average cost of a compact car over the last 10 years has ranged from $12,000 to $28,000. Your job is to assist your team with plotting this data on a graph to help your team with visualizing potential trends in the data. The years will be on the x-axis and the cost will be on the y-axis.
(a) What is a good maximum and minimum value along the y-axis that would be a good fit for your data on this graph? Explain your reasoning.
(b) What is a good distance between the marks along the y-axis on the graph to ensure that you have appropriate resolution for your data set? Explain your reasoning. Too few means you can’t reasonably read the data, too many will make your graph too cluttered.
(c) What is a good maximum and minimum value along the x-axis which would be a good fit for your data on this graph? Explain your reasoning.
(d) What is a good distance between the marks along the x-axis on the graph to ensure that you have appropriate resolution for your data set? Explain your reasoning. Too few means you can’t reasonably read the data, too many will make your graph too cluttered.