How to set up qualatative data as a set of binary variables for regression analysis?

[DanielManiel]

I am doing a regression analysis and have some data from a survey. One column is ethnicity. The way the data is set up is:

Yearly Salary	Ethnicity	Age
100	Black	25
87	White	24
57	Black	65
94	Hispanic	45

<tbody>
</tbody>

But I would like it set up so that each ethnicity is it's own column:

Yearly Salary	Black	White	Age
100	1	0	25
87	0	1	24
57	1	0	65
94	0	0	45

<tbody>
</tbody>

Is there a fast way of doing this in excel?
Thanks!

 

[Nishant94]

Unknown
	A	B	C	D
1	Yearly Salary	Ethnicity	Age
2	100	Black	25
3	87	White	24
4	57	Black	65
5	94	Hispanic	45
6
7
8
9	Yearly Salary	Black	White	Age
10	100	1	0	25
11	87	0	1	24
12	57	1	0	65
13	94	0	0	45
14
Sheet2

Cell Formulas
Range	Formula
B10	=SUMPRODUCT(($A10=$A$2:$A$5)*(B$9=$B$2:$B$5))
C10	=SUMPRODUCT(($A10=$A$2:$A$5)*(C$9=$B$2:$B$5))
D10	=VLOOKUP(A10,$A$2:$C$5,3,0)