# The file S02_35.xlsx contains data from a survey of 500 randomly selected households. a. Create a new column Has Second Income with values Yes and No depending on whether the household has a reported second income. b. Use StatTools to find the mean, median, and standard deviation of First Income, broken down by the variable you created in part a.

The file S02_35.xlsx contains data from a survey of 500 randomly selected households.

a. Create a new column Has Second Income with values “Yes” and “No” depending on whether the household has a reported second income.

b. Use StatTools to find the mean, median, and standard deviation of First Income, broken down by the variable you created in part a. Is there any indication that first income tends to be any larger or smaller, or has more or less variation, depending on whether there is a second income?

c. Repeat part b for each of the Monthly Payment and Debt variables.

a. Create a new column Has Second Income with values “Yes” and “No” depending on whether the household has a reported second income.

b. Use StatTools to find the mean, median, and standard deviation of First Income, broken down by the variable you created in part a. Is there any indication that first income tends to be any larger or smaller, or has more or less variation, depending on whether there is a second income?

c. Repeat part b for each of the Monthly Payment and Debt variables.

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**Related Book For**

## Data Analysis and Decision Making

4th edition

**Authors:** Christian Albright, Wayne Winston, Christopher Zappe

**ISBN:** 978-0538476126