Quantitative Business Analysis

I have picked a bar graph for the discussion because of its versatility in comparing different thresholds and categories. The bar graph can be two-dimensional, with the x and y axes showing other conditions. Each bar represents an item in a category list, and the height of the bar will determine the threshold or size as measured by the y index (Holmes et al., 2022). If the items represented by each of the bars are sequential such as the months of a year or the sequence of appearance of an event, then there can be a trend deciphered from the bar graph.

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Suppose the traffic department in a city is seeking to visualize and analyze traffic accidents involving different vehicle categories across a year; it can have the data in a sheet and then use that to make a bar graph. The graph could then be displayed in the offices where the staff can use it to understand trends and see whether a particular policy regarding traffic accidents is working as expected. Therefore, one could arrive at a possible graph as illustrated below.

Traffic Accidents By Vehicle Category In A Year

According to the bar graph, it is possible to show the category with the highest number of traffic accidents each year and tell whether the trend persists across months while also showing which months have the highest or lowest accident statistics. The information can be helpful to the department handling traffic incident responses to allocate resources, target specific groups of road users for awareness programs, and benchmark future efforts.

Eventually, qualities making the bar graph ideal include categorical comparison, visual representation, month-wise analysis, the flexibility of multiple categories in the same chart, and clarity and readability even for people not already familiar with the data. It makes sense in many cases involving comparisons, trend seeking, and providing a quick glimpse, especially in posters or reports.

Reference

Holmes, A., Illowsky, B., & Dean, S. (2022). Introduction to business statistics. OpenStax.

https://openstax.org/details/books/introductory-business-statistics