ECO

Complete chapter 2 problems 40 and 44 (all letters) from page 78 at the end of the chapter. Refer to the associated files, P02_30.xlsx for problem 40, and P02_44.xlsx for problem 44.P02_30.xlsxP02_44.xlsxWithin the spreadsheet, be sure to show all formulas used, and write a brief explanation of what the data means. No Word document is required for this assignment.PROBLEM-40The Wall Street Journal CEO Compensation Studyanalyzed CEO pay from many U.S. companies with fiscal year 2008 revenue of at least $5 billion that filed their proxy statements between October 2008 and March 2009. The data are in the file P02_30.xlsx. (Note: This data set is a somewhat different CEO compensation data set from the one used as an example in the next chapter.)a. Create histograms to gain a clearer understanding of the distributions of annual base salaries and bonuses earned by the surveyed CEOs in fiscal2008. How would you characterize these histograms?b. Find the annual salary below which 75% of all given CEO salaries fall.c. Find the annual bonus above which 55% of all given CEO bonuses fall.d. Determine the range of the middle 50% of all given total direct compensation figures. For the50% of the executives that do not fall into this middle 50% range, is there more variability in total direct compensation to the right than to the left? Explain.PROBLEM-44The file P02_44.xlsx contains annual data on the percentage of Americans under the age of 18 living below the poverty level.a. In which years of the sample has the poverty rate for American children exceeded the rate that defines the third quartile of these data?b. In which years of the sample has the poverty rate for American children fallen below the rate that defines the first quartile of these data?c. What is the typical poverty rate for Americanchildren during this period?d. Create and interpret a time series graph for these data. How successful have Americans been recently in their efforts to win “the war against poverty” for the nation’s children?e. Given that this data set is a time series, discuss whether the measures requested in parts a-c are very meaningful at the current time.