The file P02_57.xlsx contains data on mortgage loans in 2008 for each state in the United States. The file is different from similar ones in this chapter in that each state has its own sheet with the same data laid out in the same format. Each state sheet breaks down all mortgage applications by loan purpose, applicant race, loan type, outcome, and denial reason (for those that were denied). The question is how a single data set for all states can be created for analysis. The Typical Data Set sheet indicates a simple way of doing this, using the powerful but little-known INDIRECT function. This sheet is basically a template for bringing in any pieces of data from the state sheet you would like to examine.
a. Create histograms and summary measures for the example data given in the Typical Data Set sheet and write a short report on your findings.
b. Create a copy of the Typical Data Set sheet and repeat part a on this copy for at least one other set of variables (of your choice) from the state sheets.