Alexa Rank vs. Traffic Graphs
For what it's worth, I have plotted the graph of website traffic versus Alexa rank for websites in the education, financial and internet niches. We all know that the Alexa rank is not always accurate and that it can be manipulated, so do not use the data below to take any business decision.
Only websites with Alexa ranks less than 1,000,000 were considered.
Alexa rank is the 3 month average rank for the months of October, November and December 2009. Traffic was measured as an average of unique visitors per day for the month of December 2009.
Additional screening was done for sites with Alexa ranks between 100,000 and 1,000,000 to exclude webmasters that actively improve their ranks. Only sites with time on site between 1 minutes and 5 minutes and with pageviews/user between 2 and 5 were considered. All sites with Alexa ranks between 100,000 and 1,000,000 were US or UK based.
Traffic was measured from different tracking programs as Google Analytics, Extreme Tracking, etc. Although there are differences in the ways these programs track visitors, the numbers should be close enough.
Education websites
The traffic and Alexa rank of 40 education websites are shown in the graph below.

Financial websites
The traffic and Alexa rank of 40 financial websites are shown in the graph below.

Internet websites
The traffic and Alexa rank of 40 internet websites are shown in the graph below.

Alexa