I have a large data set with 15+ different columns of data. There are 2 separate columns in my data set labeled ("BASC_7y") and ("BASC_12y"). I need to bin my data based on the following conditions:
BASC_7y>=60 & BASC_12y>=60
BASC_7y>=60 & BASC_12y<60
BASC_7y<60 & BASC_12y>=60
BASC_7y<60 & BASC_12y<60
I realized I can't just make these conditions into categorical variables because there is data in other columns that I need for each of these conditions.
I also want to rename these bins as "High Persistent", "Decreased Threshold", "Increased Threshold", and "Low Persistent".
I ultimately need to put this into a regression, but how did I bin this data and create named labels for each bin?