Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Step 7. INC1PCTRH2 = INC1 expressed as a percent of the poverty level income threshold for a household of 2 (RH2). Formula 6: For 2009
Step 7. INC1PCTRH2 = INC1 expressed as a percent of the poverty level income threshold for a household of 2 (RH2). Formula 6: For 2009 INC1PCTRH2 = INC1/RH2 =_ _ a number > 1 means above the poverty level income threshold for a household of 2. Step 8. INC1PCTRH4 = INC1 expressed as a percent of the poverty level income threshold for a household of 4 (RH4). Formula 7: RH4 = H4/CPI (2009) in hundredths RH4 = Formula 8: INC1PCTRH4 = INC1/RH4. For 2009 INC1PCTRH4 = a number 1 means above the poverty level income threshold for a household of 2. Call this INC2PCTRH2. Step 11. Again, what if you doubled the income numbers to represent two people working in the household? Formula 10: Or, (INC1*2)/RH4 =_ a number >1 means above the poverty level income threshold for a household of 4. Call this INC2PCTRH4 Step 12. Graph 3. INC2PCTRH2 and INC2PCTRH4 on the same graph. Title of graph of graph should be Annual Income 2 as Percentage of Poverty Level Income Threshold. References/Data Sources 1. www.dol.gow/whd/state/stateMinWageHis.htm a. The minimum wage can be found in reference #1 above at, U.5 Dept. of Labor, Wage and Hour Division. b. This data source includes minimum wage at the Federal Level and individual state level. 2. www.socialsecurity.gov/policy/docs/statcomps/supplement/2014/ a. Use Table 3.E1 to get the Poverty Level Income Thresholds. See data source #2 above. b. Also you can get the CPI-U, annual averages at this data source. 3. statistics @ssa.gov 4. http://data.bls.gov/pdg/querytool.Isp?survey=cu 5. www.bls.gov 6. http://oregonstate.edw/instruct/anth484/minwage.html
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started