The Decile shares of income are: D1 D2 D3 D4 D5 D6 D7 D8 D9 D10 0.9 2.43 3.83 5.23 6.69 8.32 10.25 12.79 16.85 32.7 1 a. Find the income that defines the bottom 60% of the people i.e. the income under which 60% of the people fall below. Ans. b. Find the income that defines the top 10% of the people i.e. the income which the richest 10% of the people are above. Ans. c. Compute the share of the total income flowing to the bottom 60% of people. Ans. d. Compute the share of total income flowing to the richest 10% of people. Ans. e. Find the average personal income of the bottom 60%. Ans. f. Find the average personal income of the top 10%. Ans. g. How much income would have to be transferred to the bottom 60% of the people from the top 10% of the people in order to bring the average income in the bottom 60% to $25(1000s)? Ans. h. If that were done (g. above), what would be the new average personal income of the top 10% of the people? Ans. Dagum Model fy=(1-a)2Boy1+81+ly-68+1 Fy=a+ 1-al+ly-d y=11-ap-al-1-1