V and Digital Ads Listed below are amounts (billions of dollar...

Question

V and Digital Ads Listed below are amounts (billions of dollars) spent on TV and digital advertising. The amounts are listed in order by year ending with the year 2022. The last few years are projected amounts (based on data from Magna Global). Construct a graph that reveals the story that the data are trying to tell. What story does the graph depict?
TV Ads:

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TV Ads:

Data table showing annual spending in billions on TV advertising from 2010 to 2022, with projected amounts for recent years.

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Accepted Answer

Hello, everyone. Let's take a look at this question together. Recent market research tracked the annual spending on outdoor advertising in billions of dollars for the past 24 years, ending in 2022. The last few values are projected based on current market trends. The spending data in billions are given in order by year with the following values. And we have to construct a graph that reveals the story that these data are trying to tell, and interpret the trend shown in the graph. What story does the graph depict about outdoor advertising spending? So in order to solve this question, we have to use the spending data that we are given in order by year for the past 24 years, ending in 2022, to construct a graph that reveals the story that the data is trying to tell and interpret the trend that is shown in the graph. So the first step in constructing the graph is to organize the data that we are given, separated by year and. spending in billions of dollars. And then we take our organized data and plot it in a scatter plot where the x-axis represents the years from year 1 to year 24, and the Y axis represents the outdoor advertising spending in billions of dollars. So then we plot our data points, label the Y axis and the X-axis, connect the data points with a trend line and add a title to our graph, we can then analyze the trend from our graph, which when we view the graph, we can notice an overall steady increase in spending from the early years, as well as a consistent upward trend until around the middle of the period and in the later years, we see that the growth rate seems to slow down slightly. So from these indications of our graph, we know that the graph Indicates that the outdoor advertising spending has been growing steadily over the past 24 years. However, the more recent or projected data suggests that while spending continues to increase, the rate of growth is moderating, which could imply that the market is nearing saturation or that advertisers are diversifying their investments into other channels. And so using this information. Of our analysis of the graph and the story that the graph tells, we can identify that the correct answer choice is answer choice A, as answer choice A contains the correct graph of our data for annual outdoor advertising spending, and states that outdoor advertising spending has grown steadily over time, though recent projections indicate a slight slowdown in growth. So answer choice A is the correct answer, and all other answer choices are incorrect. I hope you found this video to be helpful. Thank you and goodbye.

Key Concepts

Data Visualization

Trend Analysis

Projected Data

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