HISTOGRAM, Meaning of histogram, Histogram is a graphical representation of frequency distribution. It is made up of a set of rectangles that have their bases on the horizontal axis, i.e. X – axis, and their frequency on the vertical axis, Y – axis. They also have their rectangles at the centre on the class mark (i.e mid point) of each interval.
HOW TO DRAW A HISTOGRAM
The areas of the rectangles are proportional to the class frequencies. In drawing a histogram, there is no gap or space between two bars, unlike the bar chart.
EXAMPLE OF THE USE OF HISTOGRAM
A farmer harvested 60 tubers of yam for eight days. The number of yam harvested per day is shown in table 2.9. Draw a diagram to represent the information.
Table 2.9: Number of tubers of yam harvested in a farm.
HISTOGRAMS Meaning of histograma, Histograms is a graphical rep distribution. set of rectangles that have their bases on the horizontal axis,, A histogram is a graphical representation that organizes a group of data points into user-specified ranges. Similar in appearance to a bar graph, the histogram condenses a data series into an easily interpreted visual by taking many data points and grouping them into logical ranges, visual representation of data distribution. Furthermore, histograms facilitate in the display a massive amount of data along with the frequency of the data values. Moreover, one can determine the median and distribution of the data by making use of a histogramd
- public enterprises
- private enterprises
- market concept
- money market
- how companies raises funds for expansion
EXCEPTIONAL (ABNORMAL SUPPLY)
Exceptional or abnormal supplies are patterns which do not abide by the laws of supply and therefore give rise to the reverse the basic laws of supply. A normal supply slopes upwards from right to left, showing at a higher price, more of a commodity will be supplied. But an abnormal supply curve does not follow this rule. An abnormal supply also called a regressive or backward sloping supply curve, does not slope upwards continuously from right to left (Fig. 21.11) thus showing that at a higher prices, less quantities will be supplied. That is a negative situation in which a fall in the price of the commodity leads to an higher expansion of its supply.
Causes of abnormal supply
- Existence of some fixed assets: Land is a fixed asset. With time the price of land increases without a corresponding increase in its size. This situation can lead to abnormal supply curve as seen in fig. 21.13. this is an example of a fixed supply curve or zero elastic or perfectly inelastic supply curve.
Rising wages: As wage rate increases, labour would at first increase its effort and the length of time they are willing to work. After a certain wage rate, labour is no longer willing to increase the number of hours worked.