Math Is Hard said:
What is represented by the -1.0 to 1.0 range of this graph?
Four thousandths of a second of white noise:
http://upload.wikimedia.org/wikipedia/en/thumb/5/55/Whitenoise.png/350px-Whitenoise.png
I am not sure what I am looking at.
It's from:
http://en.wikipedia.org/wiki/White_noise
You might want to start with first understanding what
measurement noise is.
Let's say I'm trying to measure the average volume (power) of sound produced inside a room inhabited by some specified number of teenaged girls on cellphones. I've got a mic located at some point in the room that recording the complex jumble of "how cute"s and "and she's like"s. Now, the mic (and associated instrumentation) converts the audio input into an electric signal, which ultimately can be stored as an array of numbers.
Now the circuit that converts the audio signal to a voltage is not ideal. The resistors in the circuit, for instance, do not maintain a perfectly constant resistance. Their resistance fluctuates ever so slightly, due to thermal effects. This introduces "noise" into the voltage signal. This noise turns out to be white, as it has no specific frequency dependence (this may become more clear after the next bit).
In addition to the noise from the circuitry, another source of noise may be, say noise from a nearby construction site, with a jackhammer going off at 100Hz. This type of noise is not considered white, because it happens more at certain frequencies (in this case, around 100Hz) than others, and so, can be identified and eliminated mathematically.
So, if you looked at your data as total sound power vs time, you'll see that it has fluctuations about some average value. These fluctuations will include among other things, the 100Hz input from the jackhammer. If this (jackhammer) signal is small compared to the total size of the voise, you won't easily notice it, just by looking at signal vs time. However, if you decompose your noise into "bins" of different frequencies, you'll notice that while much of it has no preferred frequency (and is hence called white), there's a clear peak at around 100Hz that tells you about the jackhammer.