http://www.stat.columbia.edu/~cook/movabletype/archives/2009...
This graph also eliminates seeing if there is a correlation between money spent per individual and life expectancy. On a scatter plot, if there was a correlation, we would expect to see the data fall in some line. If a data point was outside of that line, then it would be obvious.
Wish I could provide a scan of the page as it went to print, but I only saw it while visiting family. Regardless, the presentation is clearly to cause that double take rather than just to efficiently convey the information.
age/cost (the slope)
also, how do you identify your datapoints in scatter-plot neatly?
to me this graph gives surprisingly rich information packed
We're on the web, so it would be neat to be able to use the mouse to hover over data points to see labels.
http://en.wikipedia.org/wiki/Correlation_and_dependence
for a famous set of example scatterplots first designed by a statistician warning students of commonplace errors in interpreting correlation coefficients.