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by nhaehnle
4458 days ago
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Like all tools you have to aware of its limitations, but I think shading can be a fantastic way to visualize uncertainty. For example, the Bank of England occasionally uses it in plots of economic forecasts, where time is on the x-axis and things like GDP might be on the y-axis, eg. here http://www.bankofengland.co.uk/publications/Documents/inflat.... The fading out of intensity over time is a great visual reminder that predicting the future is hard. It is much better when your chart is supposed to be targeted at the general public, because the "smearing out" of the data is very hard to misunderstand, unlike confidence intervals. |
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