Chapter 2: Graphs, Charts, and Tables--Describing Your Data

CHAPTER 2 • GRAPHS, CHARTS, AND TABLES—DESCRIBING YOUR DATA 81
2-59. Federal flood insurance underwritten by the federal
government was initiated in 1968. This federal
flood insurance coverage has, according to USA
Today (“How you pay for people to build in flood
zones,” September 21, 2005), more than tripled in
the past 15 years. A file entitled Flood contains the
amount of federal flood insurance coverage for
each of the years from 1990 to 2004.
a. Produce a line plot for these data.
b. Describe the type of relationship between
the year and the amount of federal flood
insurance.
c. Determine the average increase per year in
federal flood insurance.
2-60. The Office of Management and Budget keeps
data on many facets of corporations. One item
that has become a matter of concern in the
number of applications for patents submitted
compared to the backlog of applications that have
not been processed by the end of the year. A file
entitled Patent provides data extracted from a
USA Today article (Kevin Maney, “Patent
applications so abundant that examiners can’t
catch up,” September 21, 2005) that addresses
the problem.
a. Construct the two line plots on the same
axes.
b. Determine the types of relationship that exist
between the years and the two patent-related
variables.
c. During which year(s) did the backlog of applications
at the end of year equal approximately
the same number of patent applications?
2-61. Energy prices have been a major source of economic
and political debate in the United States
and around the world. Consumers have seen
gasoline prices at the pump rise and the impact
of fuel prices has been blamed for economic
problems in the United States at different points
in time. The following data (also found in the
file called Gasoline Prices) reflect the average
price of regular unleaded gasoline in the state of
California for the years between 1970 and 2005.
The first price column is the actual average
price of gasoline during each of those years.
The second column is the average price adjusted
for inflation, with 2005 being the base year.
(Note, for each year prior to 2005, the average
gasoline price is adjusted downward to reflect
the inflation adjustment compared to the base
year of 2005.)
a. Construct an appropriate chart showing the
actual average price of gasoline in California
over the years between 1970 and 2005.
b. Add to the graph developed in part a the data
for the adjusted gasoline prices.
c. Based on this graph from part b, what conclusions
might be reached about the price of
gasoline over the years between 1970 and
2005?
Actual
Inflation Adjusted
Year Average Price Price (Base Year 2005)
1970 $0.34 $1.36
1971 $0.36 $1.36
1972 $0.35 $1.27
1973 $0.39 $1.38
1974 $0.53 $1.67
1975 $0.59 $1.69
1976 $0.61 $1.67
1977 $0.65 $1.66
1978 $0.65 $1.57
1979 $0.90 $1.98
1980 $1.23 $2.49
1981 $1.35 $2.50
1982 $1.25 $2.18
1983 $1.12 $1.88
1984 $1.13 $1.83
1985 $1.11 $1.75
1986 $0.87 $1.35
1987 $0.89 $1.33
1988 $0.90 $1.31
1989 $0.97 $1.36
1990 $1.09 $1.47
1991 $1.15 $1.50
1992 $1.10 $1.40
1993 $1.22 $1.52
1994 $1.21 $1.47
1995 $1.23 $1.47
1996 $1.32 $1.54
1997 $1.33 $1.53
1998 $1.16 $1.32
1999 $1.36 $1.53
2000 $1.66 $1.82
2001 $1.64 $1.75
2002 $1.51 $1.60
2003 $1.83 $1.90
2004 $2.12 $2.15
2005 $2.39 $2.39
Source: The California Energy Commission, September 2005
2-62. Existing-home sales rose in August of 2005 to the
second-highest pace on record, with strong price
gains in a market of tight supply, according to the
National Association of Realtors ® (Walter Molony
and Lucien Salvant, “Existing Home Sales Second
Highest on Record,” September 26, 2005). A file
entitled EHSales contains the number of existing
homes sold (millions) from August of 2004 to
August 2005.