A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000,

Question:

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?

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