Scattergraphs use dots on a grid to represent relationships or patterns within a dataset. These relationships can be positive, where one variable increases as the other does, or negative, where one variable increases while the other decreases.
In a business context, scattergraph slides are valuable tools for connecting various efforts, such as budgeting and estimating future expenses. They can also be instrumental in discussing revenue, sales, costs, and other business-related topics.
Applications of Scattergraph Slides:
When using a numerical variable like currency, choose increments that effectively display your data. Increments that are too large or too small can obscure patterns.
Be honest about the correlation in your data, whether it's positive, negative, or nonexistent. Avoid misrepresenting your data by implying a relationship that doesn't exist.
Begin your x-axis and y-axis at 0 to ensure an accurate representation of your data. Starting at a different number can skew the appearance of your scattergraph.
If there is a correlation, include a line of best fit, also known as a trend line, to highlight the relationship for your audience.
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