Question: 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

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!