It's been awhile since I installed jpGraph, but the path you enter should be your web server path -- something like
/home/user/www/...
this varies from server to server. A good way to find this out, among other things is to make a .php file and in it type this
<?
phpinfo();
?>
save that file to your server's root and go to it in a web browser.
When you do, you should see a section called Apache Environment, under that should be an entry called DOCUMENT_ROOT
add to this your web path to to jpgraph cache directory and you're good to go