Question

How would we convert this in Excel, income>=50k, convert to 1; If income<50k, convert to 0.

How would we convert this in Excel, income>=50k, convert to 1; If income<50k, convert to 0.

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Answer #1

Suppose we have the excel sheet with Column : Income with lots of Entries.

Use: =if(Logical_test,[value_if_True],[value_if_false])

here

Logical test: in your case it is income>=50000

value_if_True: if this condition True we need 1

value_if_false: if condition fails we need 0

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