Consider the data in the file C03_02.xlsx. For several hundred couples, it lists their education level, their annual combined salary, the market value of their home and cars, the amount of savings they have accumulated , and a self-reported “social climber index” on a scale of 1 to 10.
Prepare a report based on these data, supported by relevant charts and/or tables, that could be used in a book such as The Millionaire Next Door. Your conclusions can either support or contradict those of Stanley and Danko.
1. Create a correlation table of the 6 variables . You can use Excel Data Analysis Tool Pak to perform this procedure .
2. Construct 2 scatter plots: (a) savings vs. salary, and (b) SC index vs salary. How are they related? Make sure to interpret your findings.
