Q1) Open up the file Assignment 1 and examine the data set on the worksheet Q1. This is a data set of 500 Bakersfield households that were recently surveyed. A definition for each variable (unless self-explanatory) can be found in the comments section (place your cursor over any cell with a little red triangle - a comment box will pop up). Our objective is to learn about the financial state of all Bakersfield households. Answer the following (a text box for your answers is provided to the right of the data):a) Is this cross-sectional data or time-series data? b) Is this a population or a sample?c) Ignoring the variable Household, which is just an identifier variable (household #1, household #2, etc.), identify the variable type and sub-type for each variable.d) If you wished to examine the distribution of the variable monthly payment, what would you do? List any graphs or calculations you think appropriate.