Question
Use dataset k401ksubs from wooldridge package for this problem. After loading the dataset, type ?k401ksubs in console to familiarize yourself with the dataset. This dataset
Use dataset k401ksubs from wooldridge package for this problem. After loading the dataset, type ?k401ksubs in console to familiarize yourself with the dataset. This dataset contains information on net financial wealth (nettfa), age of the survey respondent (age), annual family income (inc), family size (fsize), and participation in 401k retirement plans.
a. What share of respondents in the sample are eligible to participate in a 401k plan?
b. In a sub-sample of eligible respondents, what share of respondents are participating in 401k plans?
c. In a sub-sample of those participating in a 401k program who are also single (not married), calculate and compare the means, medians, standard deviations, and IQRs of the net total financial assets of men and women. Describe your findings.
d. Plot the distribution of net total financial assets (in the sub-sample of participating singles) by gender. Have color determine whether the distribution is of male of female participants. Hint: in ggplot aes() call, specify that color = as.factor(male). Use theme_bw().
e. Given the distribution you've just plotted, which from the pair of summary statistics (mean/median, SD/IQR) are more appropriate? Why?
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