This is a follow-up question to one I asked earlier this week. I don’t have experience weighting or handling data with weight values.
I have created a CSV format data extract for bachelor degree holders (DEGFEILD excluding N/A) that are in the labor force (EMPSTAT excluding N/A and not in labor force). My goal is to use Excel to calculate average and median income for each degree (DEGFEILD).
Do I need to factor in PERWT when calculating these functions (i.e. multipy PERWT values by INCWAGE and then calculate the average) or can I ignore PERWT in this case and use a pivot table and the MEDIAN function?