Question: Explain why a researcher would use a Box-Cox transformation. Your answer should also include the formula for the transformation. Using =0.16 and your data on

Explain why a researcher would use a Box-Cox transformation. Your answer

Explain why a researcher would use a Box-Cox transformation. Your answer should also include the formula for the transformation. Using =0.16 and your data on consumers expenditures (found in Part 2 and attached here), transform the first quarter of 2021. Next, use the log transformation to transform the last quarter of 2021. Show all your work. 2019 Q1 6429 2019 Q2 6865 2019 Q3 7029 2019 Q4 7310 2020 Q1 6718 2020 Q2 6968 2020 Q3 7115 2020 Q4 7430 2021 Q1 6707 2021 Q2 7077 2021 Q3 7181 2021 Q4 7617

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