Table of contents
- 1. Introduction to Statistics53m
- 2. Describing Data with Tables and Graphs2h 1m
- 3. Describing Data Numerically2h 8m
- 4. Probability2h 26m
- 5. Binomial Distribution & Discrete Random Variables3h 28m
- 6. Normal Distribution & Continuous Random Variables2h 21m
- 7. Sampling Distributions & Confidence Intervals: Mean3h 37m
- Sampling Distribution of the Sample Mean and Central Limit Theorem19m
- Distribution of Sample Mean - Excel23m
- Introduction to Confidence Intervals22m
- Confidence Intervals for Population Mean1h 26m
- Determining the Minimum Sample Size Required12m
- Finding Probabilities and T Critical Values - Excel28m
- Confidence Intervals for Population Means - Excel25m
- 8. Sampling Distributions & Confidence Intervals: Proportion1h 33m
- 9. Hypothesis Testing for One Sample3h 32m
- 10. Hypothesis Testing for Two Samples4h 49m
- Two Proportions1h 12m
- Two Proportions Hypothesis Test - Excel28m
- Two Means - Unknown, Unequal Variance1h 2m
- Two Means - Unknown Variances Hypothesis Test - Excel12m
- Two Means - Unknown, Equal Variance15m
- Two Means - Unknown, Equal Variances Hypothesis Test - Excel9m
- Two Means - Known Variance12m
- Two Means - Sigma Known Hypothesis Test - Excel21m
- Two Means - Matched Pairs (Dependent Samples)42m
- Matched Pairs Hypothesis Test - Excel12m
- 11. Correlation1h 24m
- 12. Regression1h 59m
- 13. Chi-Square Tests & Goodness of Fit2h 31m
- 14. ANOVA2h 1m
2. Describing Data with Tables and Graphs
Time-Series Graph
Struggling with Statistics for Business?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
The time-series graph below gives the price (USD) of a gallon of gas each month over the course of a year. Find the time intervals during which gas prices are increasing.

A
Jan-Feb and Jun-Aug
B
Feb-Dec
C
Mar-Apr and May-Jun
D
Feb-Jun and Aug-Dec
Verified step by step guidance1
Step 1: Observe the time-series graph provided. The x-axis represents months from January to December, and the y-axis represents the price of gas in USD.
Step 2: Identify the intervals where the graph shows an upward trend, indicating an increase in gas prices. Look for sections where the line connecting the points slopes upward.
Step 3: From February to June, the graph shows a consistent upward trend, as the price increases from approximately \$2.98 in February to \$3.12 in June.
Step 4: From August to December, the graph again shows an upward trend, as the price increases from approximately \$3.02 in August to \$3.12 in December.
Step 5: Combine the identified intervals to conclude that the gas prices are increasing during the time intervals February to June and August to December.
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