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 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 5120 2019 Q2 5409 2019 Q3 5511 2019 Q4 5789 2020 Q1 5224 2020 Q2 5628 2020 Q3 5690 2020 Q4 6029 2021 Q1 5463 2021 Q2 5863 2021 Q3 5916 2021 Q4 6221 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 5120 2019 Q2 5409 2019 Q3 5511 2019 Q4 5789 2020 Q1 5224 2020 Q2 5628 2020 Q3 5690 2020 Q4 6029 2021 Q1 5463 2021 Q2 5863 2021 Q3 5916 2021 Q4 6221

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