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the question is in here Consider the following set of unadjusted annual household income values (total income before taxes) and their respective household sizes: Income

the question is in here

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Consider the following set of unadjusted annual household income values (total income before taxes) and their respective household sizes: Income Household Size 24480 32528 34021 36816 43785 46628 53226 55854 58634 64263 70416 72020 74730 78109 78710 81711 82511 83122 94725 98188 Part A: [2 marks] For each entry, compute the equivalent household income (Round to the nearest dollar). Part B: [3 marks] Consider that the absolute poverty line is $25,000, after adjusting for household size. What percentage of households are in poverty? Part C: [3 marks] Now consider the relative poverty line which is 50 percent below median adjusted income. What percentage of households are in poverty in this instance? Hint: For these computations, you can copy the data into a spreadsheet application and use the formula command to determine the above calculations] Part D: [2 marks] In lieu of income levels, briefly describe an alternative method of determining economic well-being (namely, the Human Development Index)

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