The data is from the 1991 Survey of Income and Program Participation (SIPP). You are provided with 7933 observations.
The sample contains household data in which the reference persons aged 25-64 years old. At least one person is employed, and no one is self-employed. The observation units correspond to the household reference persons.
The data set contains a number of feature variables that you can choose to predict total wealth. The outcome variable (total wealth) and feature variables are described in the next slide.
Variable to predict (outcome variable):
•tw: total wealth (in US $).
•total wealth equals net financial assets, including Individual Retirement Account (IRA) and 401(k) assets, plus housing equity plus the value of business, property, and motor vehicles.
Variables related to retirement (features):
• ira: individual retirement account (IRA) (in US $).
•e401: 1 if eligible for 401(k), 0 otherwise Financial variables (features):
• nifa: non-401k financial assets (in US $).
• inc: income (in US $).
Variables related to homeownership (features):
• hmort: home mortgage (in US $).
• hval: home value (in US $).
• hequity: home value minus home mortgage. Other covariates (features):
• educ: education (in years).
• male: 1 if male, 0 otherwise.
• twoearn: 1 if two earners in the household, 0 otherwise.
• nohs, hs, smcol, col: dummies for education: no high- school, high-school, some college, college.
• age: age.
• fsize: family size.
• marr: 1 if married, 0 otherwise.
• Both 401k and IRA are tax-deferred savings options which aims to increase individual saving for retirement
• The 401(k) plan:
• a company-sponsored retirement the account where employees can contribute
• employers can match a certain % of an employee’s contribution
• 401(k) plans are offered by employers -- only employees in companies offering such plans can participate
• The feature variable e401 contains information on the eligibility
• IRA accounts:
• Everyone can participate -- you can go to a bank to open an IRA account
• They feature variable ira contains IRA account (in US $)
●Build a prediction/fitted model to predict total wealth (tw) in US dollars
●Write up a paper, up to 20 pages (not including the code), 11 size font, and 1.5 spacing
■ Briefly state the objectives of the study
○ Statistical analyses
■ Describe how you apply the tools you have learned from this course to perform the prediction task
■ You should try different methods and compare their prediction performance and interpretability
■ Summarize what you have learned from this project
■ Discuss caveats to the conclusions drawn from your analyses
o We kept 20% of the sample on which we are going to run your proposed model and method. We will rank the students by accuracy of the prediction on that 20% of the sample.
CS 340 Milestone One Guidelines and Rubric Overview: For this assignment, you will implement the fundamental operations of create, read, update,
Retail Transaction Programming Project Project Requirements: Develop a program to emulate a purchase transaction at a retail store. This
7COM1028 Secure Systems Programming Referral Coursework: Secure
Create a GUI program that:Accepts the following from a user:Item NameItem QuantityItem PriceAllows the user to create a file to store the sales receip
CS 340 Final Project Guidelines and Rubric Overview The final project will encompass developing a web service using a software stack and impleme
