Create an index on excel from the z-scoreHere are the questions:1. The spreadhseet shows the median household income and unemployment rate for the 190 census tracts in Louisville. Create an ‘index of prosperity’ based on these two variables by converting each variable into a z-score and calculating the average z-score for each neighborhood. Obviously, higher income and lower unemployment are the preferred outcomes in creating this index. Which neighborhood has the highest index of prosperity and what is the value of the index?2. What is the rank of the neighborhood identified above in terms of (1) income only and (2) unemployment only.My requirements:Please include the updated excel sheet in your answer. I have worked and re-worked this question and keep getting the same wrong (according to my professor) answer. I’d like to see what formulas you are using.I am including the excel sheet I have been working on – you can use “sheet 3” or create a new sheet if you like.
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