Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Open the CES data for 2018 Q4 and complete the following manipulations. I expect to see the data set in the excel worksheet with these
Open the CES data for 2018 Q4 and complete the following manipulations. I expect to see the data set in the excel worksheet with these manipulations completed. Only include the 2018 Q4 tab in your submission. a. Sort the data by age and household size. b. Create a new variable for total expenditures (add all expenditures together for each observational unit). c. Create three more variables: food share of total expenditures, car share of total expenditures, and clothing share of total expenditures (you will need to add all clothing related values). To create an expenditure share, divide the expenditure category by total expenditures. d. Find the household with the largest total expenditures. How much larger are their expenditures relative to total expenditures for the household with the next to largest expenditures
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