Create a risk probability scatter plot in excel how to#

Now that you understood how to make a graph with 3 variables (Bubble Chart), it is important to know the pros and cons of using it. STEP 3: From the Format Label Panel, Check Value from Cell STEP 2: Go to Chart Options > Add Chart Elements > Data Labels > More Data Label Options STEP 4: Your desired Bubble Chart with 3 variables is ready! STEP 2: In the Format Series Panel, Select the Fill icon. So, it is better to opt for Project 5 which has a high probability of success and high profits as well. STEP 3: Add the horizontal and vertical axis title.Īs you can interpret from this chart that even though Project 2 has the maximum profit the chance of success is low. STEP 2: Go to Insert > Insert Scatter Chart or Bubble Chart > 3D Bubble. Using this data, let’s try to create a 3D Bubble Chart with 3 variables! In this data table, you have project-wise data including cost, profit, and probability of success. STEP 5: Under Axis Options > Minimum >Set the value to 0. STEP 4: Right Click on the axis and select Format Axis to open the Format Axis Panel. Formatting this axis to restrict negatives value is a good idea to avoid confusion. Since X-axis represents the age of the house, it cannot be negative. The horizontal axis contains negative values as well. STEP 3: Click on Series1 and Click Delete to remove it. STEP 2: Go to Insert > Insert Scatter Chart or Bubble Chart > Bubble. STEP 1: Select the table on where we want to create the chart. So, using Bubble Chart with 3 variables, you can plot the age of the house on the X-axis, the proximity to the city is on the Y-axis and the value of the house (the 3rd variable) as the size of the bubble.įollow the steps below to understand how to create a bubble chart with 3 variables: In the table, you have the age of the house, proximity to the city (in km) and the value of the house.