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Calculate Personal Income by place of residence for State

You are interested in figuring out the personal income of residents in State “z in the US. Using the data provided in the table below answer questions 2.1. and 2.2. (Hint: You are to accurately calculate the State Z personal income-make sure not to double count) Components of Personal Income, State Z, 2017 All figures EXCEPT population are in thousands dollar Description Earnings by place of work Wages and salaries by place of work Adjustment for commuting/residence Total Contributions for government social insurance Employer contributions for government social insurance Employee/self-employed contributions for 31,642,789 21,952,609 1,223,696 3,927,393 2,021,012 1,906,38:1 9,231,044 5,554,356 755,393 overnment social insurance Dividends, interest, and rent Personal current transfer receipts Population Source: Bureau of Economic Analysis 2.1. Calculate Personal Income by place of residence for State Z. Show the formulas you use and your calculations. 2.2. Calculate Per Capita Personal Income. Show the formulas you use and your calculations.

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