FINC-780 Assignment 1: Effect of Financial Crisis on Corporate Profits Concept: Most data science projects, at a very minimum, involve answering “what is/was…” type questions using data. Sometimes, these questions are generated in an exploratory mode, while at other times, the questions are more formally posed by business or other entities. There are simple ways to answer questions using visualization or tabulation and without resorting to advanced statistical analysis. In this project, you will use tabulation to answer some real-world data questions. You will showcase your ability in using dataframes and in using packages such as dplyr and data.table. You will also showcase your ability to report results of a data project using Markdown. Requirements: You are provided with a csv file containing annual financial data for firms. Three important columns: fyear = fiscal year; tic = firm ID, ni = net income. Using this information, you shall answer the following questions and the other requirements that follow the questions: 1. Overall, what is the effect of the crisis in financial terms? You can answer this by calculating the percent by which average annual net income decreases for firms during crisis years (2007-8) compared to pre-crisis years (2004-6). 2. What are the 10 firms with the largest and smallest changes respectively? List results for absolute change and percent change separately. 3. How long does it take for firms to recover from the crisis? You can follow the following algorithm. For each firm in the sample, identify the highest Net Income in the pre-crisis period. Focusing now on the post-crisis period of 2009-14, identify when this highest level was breached and set the variable ‘YearsRecover’ equal to the difference between year level breached and 2008. If the highest level was not breached, set ‘YearsRecover’ to NA. Summarize this information in a table. Show key steps in your work and be sure to demonstrate proficiency in dplyr or data.table or both. Also, produce a data-supported overall conclusion concerning the effect of the crisis on corporate profits. Use Markdown skills to format the report appropriately. Recall that a formal report has components such as introduction, body, and conclusion, and is labelled and formatted appropriately. Submission: pdf with pages <= 8.