Question
An economist wishes to summarize sample data from 26 metropolitan areas in the U.S. The following table lists each areas 2010-2011 median income as well
An economist wishes to summarize sample data from 26 metropolitan areas in the U.S. The following table lists each areas 2010-2011 median income as well as the monthly unemployment rate and average consumer debt for August 201; the complete data set can be found on the text website and is labeled Debt Payments.
| Metropolitan area | Inc | Unemp | Debt |
| Washington, D.C. | 103.5 | 6.3 | 1285 |
| Seattle | 81.7 | 8.5 | 1135 |
| Baltimore | 82.2 | 8.1 | 1133 |
| Boston | 89.5 | 7.6 | 1133 |
| Denver | 75.9 | 8.1 | 1104 |
| San Francisco | 93.4 | 9.3 | 1098 |
| San Diego | 75.5 | 10.6 | 1076 |
| Sacramento | 73.1 | 12.4 | 1045 |
| Los Angeles | 68.2 | 12.9 | 1024 |
| Chicago | 75.1 | 9.7 | 1017 |
| Philadelphia | 78.3 | 9.2 | 1011 |
| Minneapolis | 84 | 7 | 1011 |
| New York | 78.3 | 9.3 | 989 |
| Atlanta | 71.8 | 10.3 | 986 |
| Dallas | 68.3 | 8.4 | 970 |
| Phoenix | 66.6 | 9.1 | 957 |
| Portland | 71.2 | 10.2 | 948 |
| Cincinnati | 69.5 | 9.3 | 920 |
| Houston | 65.1 | 8.7 | 889 |
| Columbus | 68.6 | 8.3 | 888 |
| St. Louis | 68.3 | 9.9 | 886 |
| Miami | 60.2 | 14.5 | 867 |
| Detroit | 69.8 | 15.7 | 832 |
| Cleveland | 64.8 | 9.6 | 812 |
| Tampa | 59.4 | 12.6 | 791 |
| Pittsburgh | 63 | 8.3 | 763 |
Use Excel to compute the summary measures of income, the monthly unemployment rate, and average consumer debt. Interpret these summary measures.
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Research In Finance
Authors: John W. Kensinger
1st Edition
0857245414, 978-0857245410
