1.Use Excel, along with the provided file, to determine Mrs. Cooks real income for the last fifteen years. In addition, find the mean, median, standard deviation, and variance of her past real income. Explain the meaning of these statistics. Can you use the mean income to forecast future earnings? Take into account both statistical and non-statistical considerations. 2. Interpret the price indices in Exhibit 3? How do economists construct them? Use Excel regression to analyze the relationship between the adjusted price index and year. Interpret your regression findings by discussing the coefficient of determination (R- squared), the regression coefficient, the regression equation, and the p-value/T Stat. Can you use the regression equation to predict the price indices? Take into account statistical, macroeconomic, and other considerations.

3.Assume that Mrs. Cooks real income will not change over the next ten years. Use the mean real income from previous steps to determine projected real income for the future ten years of Mrs. Cooks work expectancy. Use the regression equation from hint 2 to project adjusted price indices for the next ten years. Assume that Mrs. Cook pays 20% of her actual income in taxes and that Green will not provide significant state assistance. Use the projected real income and adjusted price indices to estimate Mrs. Cooks net actual income for the next ten years. What would be the likely amount of an award to Mrs. Cook based on a present value rate of 8%? Discuss the factors that could cause Mrs. Cooks future income to differ from your estimate.

"i need the answer of question 3"