Short Answer 
The student misinterpreted the x-axis, which measures 36 months (3 years) since January 2014, not 6 years, and misunderstood the y-axis, which reflects price changes in half-cent increments (0.005) rather than 5-cent increments. Accurate interpretation of both axes is crucial for correctly analyzing the presented data.
Step 1: Understand the X-Axis Labeling
The student’s understanding of the x-axis is incorrect. The x-axis is labeled as “Months Since 1/2014,” indicating that it measures the duration in months from January 2014 onward. Specifically, it ranges from 0 to 36, which adds up to a total of 36 months, or 3 years. This is crucial to note when interpreting the data presented in the graph.
Step 2: Analyze the Y-Axis Details
Similarly, the student has misinterpreted the y-axis information. The y-axis is designated as “Price per pound”, with a range from 0.65 to 0.70. It is marked in intervals of 0.005, meaning that each tick on the y-axis corresponds to a change of half a cent ($0.005), not 5 cents. This distinction greatly affects the perceived movement of price in the dataset.
Step 3: Correctly Interpret Both Axes
In summary, both axes have been misinterpreted by the student, leading to significant misunderstandings regarding the data. To correctly assess the graph, one should acknowledge that:
- The x-axis represents a span of 3 years, not 6 years.
- The y-axis reflects changes in price in half-cent increments, rather than 5 cents.