Income received by each quintile of this income distribution

Reference no: EM13698239

A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Calculate the share of total income received by each quintile of this income distribution. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution for 2005?

Reference no: EM13698239

Questions Cloud

Error analysis with discussion on the cause of these errors : Representative Numerical Values from the theoretical and experimental data sets and need to reference every Table from the Appendix

What will their monthly payments be : A young couple is purchasing a new sport utility vehicle. The price of the new vehicle is $28,300, sales tax is 7.5%, title and registration will cost $105. The dealer is offering a special finance rate of 1.9% APR for 36 months (compounded monthly)...

Suppose a consumers level of satisfaction : Suppose a consumer's level of satisfaction is given by AB2 and he/she has a total of $10 to spend on goods A and B. If the price of A is $1 and the price of B is $2, and assuming you can only purchase whole units (not fractional) of A and B, how many..

Prepare the journal entry to record williams corp : Equipment on the Cobb's books with a 5-year life was undervalued by $60,000. Any excess fair value attributable to the consideration paid was considered to be goodwill with an indefinite life. Williams Corp. also paid legal and accounting consul..

Income received by each quintile of this income distribution : A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Calculate the share of total income received by each quintile of this income distribution. Do the top an..

The store carries two portable sound systems : AudioMart is a retailer of radios, stereos, and televisions. The store carries two portable sound systems that have radios, CD players, and speakers

Assume prices and budgeted dollars are unchangeable : Assume that Bob is only purchasing two products G and W. The market price of G is $25 and of W is $20. By spending all of his budgeted amount on these two items, he is maximizing utility and receiving 100 utilities from the last unit of G and 80 util..

Powell dentistry services operates in a large metropolitan : Powell Dentistry Services operates in a large metropolitan area. Currently Powell has its own dental laboratory to produce porcelain and gold crowns.

Adjusted net saving is negative in some developing countries : Adjusted Net Saving is negative in some developing countries. Increases in natural resource exports will always increase Adjusted Net Savingn Gross Domestic Product fails to account for unpaid work. Environmentally Adjusted Net Domestic Product subtr..

User Account

All Pages