1. find the following variables in the summary extract public data file: (a) total net worth, (b) total assets, (c) total debt, (d) primary residence, (e) residential property excluding primary residence, (f) debt secured by primary residence, (g) debt secured by other residential property, (h) age, (k) income, (l) directly held stocks, (m) weights (column c, variable wgt). 2. define two new variables a. "housing" = d + e from aboveb. "mortgages" = f + g from above (strictly speaking, it’s not only mortgages, but it’s close) 3. {most important step of the whole hw} make sure you understand how to use the weights – they are needed for all calculations below. you will get zero credit if you use the weights incorrectly (because all your numbers will be wrong by far). basically, the weight is the "size" of each observation, you may interpret it as "how many households of this type are in the us" (up to some scale). instead of simple averages (aka means), you need weighted averages (aka weighted means). same for medians. google it. see more hints at the end of this file