00:01
In the given question, we are told to draw a time series plot and the data that is given to us in the question is about the amount spend for ads online.
00:14
The amount spend, the amount spend on ads online in billions.
00:31
In billions and these amounts are projected from the year 2016 to 2019 right so in the question we are given that in the year there are different years and the corresponding amount spent on online ads in these years so in 2014 it is said that nine $19 .72 billion were spent on online ads.
01:07
Next up, we have 2015 with 31 .53.
01:15
Then we have 2016 with 43.
01:17
43 .83.
01:25
And then we have 2017.
01:28
And it is $53 .29 billion.
01:35
Then we have 2018 with an amount spent on ads as $61 .14 billion.
01:46
And finally, we have the year 2019, where it is $69 .04 billion.
01:58
Now, to draw the time series, we should draw the time series graph and comment on the trend of this plot as well.
02:09
So what we could do first is we can take a graph over here, right? so let's just take a graph and on this graph we can take the year on the x -axis and the amount spent on ads on the y axis right so what we could do is we can write let's say this x axis is giving us the years so we will start with 2014 right 2014 then we have 2015 then we have 2016 then we have 17 2018 and 2019 now to take the amount spent on ads what we could do is we could take it as let's say 10 20 30 40 50 50 50 50 and 60 but it doesn't fit over 60 but it doesn't fit over here now.
03:24
So what we could do is we could add, let's say, let's take the ratings as 15, 15 plus 15 is 30, 30 plus 15 is 45, 45 plus 15 plus 15 is 60, 60 plus 15 is 75, 60 plus 15 is 75.
03:48
Let this be the amount in billions spent on ads.
03:54
Right so now that we have determined a scale for our plot what we could do is we could first mark the point where 19 .72 would lie so if this is 15 and this is 30 there is 1 2 3 4 and the 5th division is 30 right so this means we can say that each division is three points apart.
04:25
That is this is 18, this is 21, this is 24, this is 27 and this would be 30.
04:34
So if that is the case, this point over here would be 18 and 19 .72 would be somewhere over here in between these two lines.
04:47
So we can write the, we can plot the point for 2014, 19 .72 somewhere over here...