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Use python The distribution of individual income in the United States in the mid - 1 9 9 0 s was well - described by
Use python
The distribution of individual income in the United States in the mids was welldescribed by an exponential distribution with lambda where all quantities are in US dollars.
aConsider that an individual is determined to be "rich" if their income exceeds $ Determine the fraction of the population that is rich.
bCompute the average income of rich people.
cDetermine the combined income of all rich people as a fraction of the total income in the country. Express your answer as a percentage.
dComment on the wisdom of the government just taxing "rich" people.
eCreate a vector dink which describes doubleincome households. Each element of the vector should be the sum of two incomes drawn from the exponential distribution. Plot the distribution of doubleincomes as a histogram.
fCompute the average income in a doubleincome household.
gConsider a definition of poverty where household income is less than $ Compute the fraction of singleincome and doubleincome households which are living in poverty. Express both fractions as a percentage.
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