How can I answer all parts to question b please? Suppose an economy is composed of 10

Fantastic news! We've Found the answer you've been seeking!

Question:

How can I answer all parts to question b please?

Suppose an economy is composed of 10 individuals. The following table shows their annual income in thousands of dollars. Individual Income Individual 1 62 Individual 2 25 Individual 3 16 Individual 4 57 Individual 5 63 Individual 6 81 Individual 7 98 Individual 8 32 Individual 9 43 Individual 10 92 a. What is the average income in each quintile? Express your answer in thousands of dollars rounded to the nearest first decimal. Quintile 1: 20.5 Quintile 2: 37.5 Quintile 3: 59.5 Quintile 4: 72 Quintile 5: 95 b. What is the share of total income in each quintile? Express your answer in percentage rounded to the nearest first decimal. Quintile 1: Number Quintile 2: Number Quintile 3: Number Quintile 4: Number Quintile 5: Number

Posted Date: Jul 03, 2024 06:26 PM

See More Questions

A friend, explaining his position with respect to liability insurance, states, I dont feel I need the high limits of liability because I dont make that much money. If I were a doctor or a lawyer, I...
Tran Technologies licenses its functional intellectual property to Lyon Industries. Terms of the arrangement require Lyon to pay Tran $500,000 on April 1, 2018, when Lyon first obtains access to...
QUESTION 17 The slope of the aggregate supply curve decreases as total output increases. True O False QUESTION 18 The laws of supply and demand force prices to an equilibrium. True False QUESTION 19...
Simplify: Planned experiences are structured activities designed by educators to facilitate specific learning outcomes. They support holistic learning by providing opportunities to acquire new...
Manatee Corp. has developed standard costs based on a predicted operating level of 352,000 units of production, which is 80% of capacity. Variable overhead is $281,600 at this level of activity, or...
When leaders are facing a crisis or an opportunity, generally, they tend to fall back on the leadership style that has worked for them in the past. Discuss with examples the options that would help...
Data Table the pasteet dollar -X Total sales revenues 2 Number of units produced and sold 500,000 units Selling price nt. $ 230,000 te Operating Income Total Investment in assets Variable cost per...
Figure < 4 ft/s 45 0.75 ft 3 ft/s 1.50 ft 1 of 1 < Part A Determine the velocity of point A on the rim of the gear at the instant shown.(Figure 1) Enter the x and y components of the velocity...
what ways can leaders facilitate cognitive reframing and emotional regulation techniques to promote constructive conflict resolution ?

How can I answer all parts to question b please? Suppose an economy is composed of 10

Question:

Expert Answer:

Students also viewed these economics questions