Answered step by step
Verified Expert Solution
Question
1 Approved Answer
here is the data and here is part 1 solution please help me with B ana C b) c) please help me asap begin{tabular}{|c|c|c|c|} hline
here is the data
\begin{tabular}{|c|c|c|c|} \hline State & \begin{tabular}{l} Annual Mean Wage \\ (All Occupations) \end{tabular} & \begin{tabular}{l} Average Monthly \\ Rent \end{tabular} & Value of $100 \\ \hline Alabama & $50.620 & $1,055.00 & $114.20 \\ \hline Alaska & $68,130 & $1,507.00 & $94.90 \\ \hline Arizona & $58,620 & $1,613,00 & $103.70 \\ \hline Arkansas & $48.570 & $912.00 & $115.30 \\ \hline California & $73,220 & $2,032.00 & $83.60 \\ \hline Colorado & $67.870 & $1,633.00 & $98.10 \\ \hline Connecticut & $69.310 & $1,533,00 & $95.00 \\ \hline Delaware & $62.260 & $1,659,00 & $100.60 \\ \hline Flonida & $55.980 & $1,779.00 & $99.00 \\ \hline Georgia & $58.000 & $1.365.00 & $106.80 \\ \hline Hawall & $61,420 & $2.312.00 & $80.70 \\ \hline Idaho & $51,350 & $1,169.00 & $107.80 \\ \hline Ilinois & $63.930 & $1,151,00 & $102.60 \\ \hline Indiana & $53.500 & $1,031.00 & $111.30 \\ \hline lowa & $53,520 & $903.00 & $111.00 \\ \hline Kansas & $52,850 & $1,002.00 & $110.80 \\ \hline Kentucky & $51,490 & $974,00 & $112.60 \\ \hline Louisiana & $50,940 & $1,003.00 & $112,10 \\ \hline Maine & $55,960 & Not provided & $100,70 \\ \hline Maryland & $69.750 & $1,703.00 & $92.30 \\ \hline Massachusetts & $76.600 & $1,762,00 & $89.60 \\ \hline Michigan & $58,000 & $1,093,00 & $107.70 \\ \hline Minnesota & $63,640 & $1,102.00 & $102.00 \\ \hline Mississippi & $45.180 & $1,016,00 & $115.60 \\ \hline Missoun & $54,520 & $1,011,00 & $111.30 \\ \hline Montana & $52,220 & Not provided & $106.50 \\ \hline Nebraska & $55.070 & $1,023.00 & $110.50 \\ \hline Nevada & $55.490 & $1,610,00 & $102.60 \\ \hline New Hampshire & $62.550 & $1,502.00 & $93.50 \\ \hline New Jersey & $70.890 & $1,783.00 & $84.00 \\ \hline New Mexico & $54,400 & $1,152,00 & $108.90 \\ \hline New York & $74.870 & $1,695,00 & $83.70 \\ \hline North Carolina & $56.220 & $1,234,00 & $108.30 \\ \hline North Dakota & $55,800 & $831,00 & $110.70 \\ \hline Ohio & $56,530 & $988.00 & $111.60 \\ \hline Oklahoma & $50,940 & $1,006,00 & $112.80 \\ \hline Oregon & $62,680 & $1,364.00 & $97.80 \\ \hline Pennsylvania & $58.470 & $1,135,00 & $103,00 \\ \hline Rhode Island & $64,530 & $1,416,00 & $98,70 \\ \hline South Carolina & $50,650 & $1,228,00 & $108.50 \\ \hline South Dakota & $49.890 & $959.00 & $112.20 \\ \hline Tennessee & $52,820 & $1,210,00 & $110.30 \\ \hline Texas & $57,300 & $1,278,00 & $103.50 \\ \hline Utah & $57,360 & $1,461,00 & $103.50 \\ \hline Vermont & $59.190 & Not provided & $96.90 \\ \hline Virginia & $65,590 & $1,510.00 & $98.70 \\ \hline Washington & $72,350 & $1,694,00 & $91.60 \\ \hline West Virginia & $49,170 & Not provided & $112.90 \\ \hline Wisconsin & $56,120 & $1,052.00 & $108.10 \\ \hline Wyoming & $54,440 & $960.00 & $107.20 \\ \hline \end{tabular} Define the cost-of-living index using the value ofth 100 . Also use the COI table to fill in the additional values. This is money but do not include the $ sign. Round to the nearest penny. Use the data you gathered in Part 1 to ecamine how $100 compares in Michigan? Round to the third decimal place where needed. Does each state have more, less, or equal, 5pending power as Michigan? Find the ratio used to convert the a spending power in a starting state to Michigan? Note that the ratio is a COL1/COL2 - decimal solution. YOUR solution is a real number rounded to the third decimal place. We would use this ratio to find out how far a salary in a starting state would go in Michigan. Consider if the ratio should be greater than one, equal to one, or less than one if $100 goes further in Michigan than the other state? Dound in the third derimal mlare where nuaded Use the data you gathered in Part 1 to ecamine how $100 compares in Michigan? Round to the third decimal place where needed. What salary would you need to make in Michigan to have the same spending power as the other states offer? Find the ratio used to convert to the equivalent salary in Michigan? Note that the Michigan equivalent ratio is a COL1/COL2 - a real number rounded to the third decimal place. We would use this ratio to find the equivalent Michigan salary. \begin{tabular}{|c|c|c|c|} \hline State & \begin{tabular}{l} Annual Mean Wage \\ (All Occupations) \end{tabular} & \begin{tabular}{l} Average Monthly \\ Rent \end{tabular} & Value of $100 \\ \hline Alabama & $50.620 & $1,055.00 & $114.20 \\ \hline Alaska & $68,130 & $1,507.00 & $94.90 \\ \hline Arizona & $58,620 & $1,613,00 & $103.70 \\ \hline Arkansas & $48.570 & $912.00 & $115.30 \\ \hline California & $73,220 & $2,032.00 & $83.60 \\ \hline Colorado & $67.870 & $1,633.00 & $98.10 \\ \hline Connecticut & $69.310 & $1,533,00 & $95.00 \\ \hline Delaware & $62.260 & $1,659,00 & $100.60 \\ \hline Flonida & $55.980 & $1,779.00 & $99.00 \\ \hline Georgia & $58.000 & $1.365.00 & $106.80 \\ \hline Hawall & $61,420 & $2.312.00 & $80.70 \\ \hline Idaho & $51,350 & $1,169.00 & $107.80 \\ \hline Ilinois & $63.930 & $1,151,00 & $102.60 \\ \hline Indiana & $53.500 & $1,031.00 & $111.30 \\ \hline lowa & $53,520 & $903.00 & $111.00 \\ \hline Kansas & $52,850 & $1,002.00 & $110.80 \\ \hline Kentucky & $51,490 & $974,00 & $112.60 \\ \hline Louisiana & $50,940 & $1,003.00 & $112,10 \\ \hline Maine & $55,960 & Not provided & $100,70 \\ \hline Maryland & $69.750 & $1,703.00 & $92.30 \\ \hline Massachusetts & $76.600 & $1,762,00 & $89.60 \\ \hline Michigan & $58,000 & $1,093,00 & $107.70 \\ \hline Minnesota & $63,640 & $1,102.00 & $102.00 \\ \hline Mississippi & $45.180 & $1,016,00 & $115.60 \\ \hline Missoun & $54,520 & $1,011,00 & $111.30 \\ \hline Montana & $52,220 & Not provided & $106.50 \\ \hline Nebraska & $55.070 & $1,023.00 & $110.50 \\ \hline Nevada & $55.490 & $1,610,00 & $102.60 \\ \hline New Hampshire & $62.550 & $1,502.00 & $93.50 \\ \hline New Jersey & $70.890 & $1,783.00 & $84.00 \\ \hline New Mexico & $54,400 & $1,152,00 & $108.90 \\ \hline New York & $74.870 & $1,695,00 & $83.70 \\ \hline North Carolina & $56.220 & $1,234,00 & $108.30 \\ \hline North Dakota & $55,800 & $831,00 & $110.70 \\ \hline Ohio & $56,530 & $988.00 & $111.60 \\ \hline Oklahoma & $50,940 & $1,006,00 & $112.80 \\ \hline Oregon & $62,680 & $1,364.00 & $97.80 \\ \hline Pennsylvania & $58.470 & $1,135,00 & $103,00 \\ \hline Rhode Island & $64,530 & $1,416,00 & $98,70 \\ \hline South Carolina & $50,650 & $1,228,00 & $108.50 \\ \hline South Dakota & $49.890 & $959.00 & $112.20 \\ \hline Tennessee & $52,820 & $1,210,00 & $110.30 \\ \hline Texas & $57,300 & $1,278,00 & $103.50 \\ \hline Utah & $57,360 & $1,461,00 & $103.50 \\ \hline Vermont & $59.190 & Not provided & $96.90 \\ \hline Virginia & $65,590 & $1,510.00 & $98.70 \\ \hline Washington & $72,350 & $1,694,00 & $91.60 \\ \hline West Virginia & $49,170 & Not provided & $112.90 \\ \hline Wisconsin & $56,120 & $1,052.00 & $108.10 \\ \hline Wyoming & $54,440 & $960.00 & $107.20 \\ \hline \end{tabular} Define the cost-of-living index using the value ofth 100 . Also use the COI table to fill in the additional values. This is money but do not include the $ sign. Round to the nearest penny. Use the data you gathered in Part 1 to ecamine how $100 compares in Michigan? Round to the third decimal place where needed. Does each state have more, less, or equal, 5pending power as Michigan? Find the ratio used to convert the a spending power in a starting state to Michigan? Note that the ratio is a COL1/COL2 - decimal solution. YOUR solution is a real number rounded to the third decimal place. We would use this ratio to find out how far a salary in a starting state would go in Michigan. Consider if the ratio should be greater than one, equal to one, or less than one if $100 goes further in Michigan than the other state? Dound in the third derimal mlare where nuaded Use the data you gathered in Part 1 to ecamine how $100 compares in Michigan? Round to the third decimal place where needed. What salary would you need to make in Michigan to have the same spending power as the other states offer? Find the ratio used to convert to the equivalent salary in Michigan? Note that the Michigan equivalent ratio is a COL1/COL2 - a real number rounded to the third decimal place. We would use this ratio to find the equivalent Michigan salary and here is part 1 solution
please help me with B ana C
b)
c)
please help me asap
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started