here is the data

please solve qustion 4, 5 using the data above

\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} 6 points Use the data you gathered in Part 1 to examine 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. 2 polints Imagine you get a job offer from a company in Michigan and another offer from another state. We want to use the cost of living information to ecamine the salary of each job offer. What is the Michigan equivalent value salary? That is, what salary in Michigan would you need to have the same standard of living as the given salary in the other state? Let's define the equation. First weneed the variables: COLMI - The cost of living index in Michigan (value of \$100) COL 1 - The cost of living index in whatever state the other job offer is in (value of $100 ) Salarymi - The Mishigan equivalent salary. Salaryether - The salary offered in the other state. Uye these variables to define the equation that corverts the other state salary to the equivalent salary in Michigan. \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} 6 points Use the data you gathered in Part 1 to examine 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. 2 polints Imagine you get a job offer from a company in Michigan and another offer from another state. We want to use the cost of living information to ecamine the salary of each job offer. What is the Michigan equivalent value salary? That is, what salary in Michigan would you need to have the same standard of living as the given salary in the other state? Let's define the equation. First weneed the variables: COLMI - The cost of living index in Michigan (value of \$100) COL 1 - The cost of living index in whatever state the other job offer is in (value of $100 ) Salarymi - The Mishigan equivalent salary. Salaryether - The salary offered in the other state. Uye these variables to define the equation that corverts the other state salary to the equivalent salary in Michigan