Quote:
Originally Posted by epicbeardman
Anyone know how to use EViews for stats ?
I have one variable that lists the salaries of hockey players, and I have another variable ( a dummy variable ) that lists in 0 or 1 coefficients for those out of the salary variable who reported their salaries in Canadian dollars. I need to create another variable, based on the US exchange rate (.685/US) to convert only the Canadian salaries into US dollars, and leave the US dollar salaries in tact. Any help is greatly appreciated
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Good Guy Greg here again.
1. Make a series called EXCHANGE_RATE and have the following equation:
exchange_rate=0.685*(cad_salary=1)+1*(cad_salary=0 )
This will help sort out who is already in Canadian dollars, and those who are US dollars.
2.Make a series called USD_SALARY and have the following equation:
usd_salary=exchange_rate*salary.
This will pretty much multiply the exchange rate for those are in Canadian and also those who are already in USD.
