Part B: Inequality The following question has 4 parts (a.-d.), parts b. to d. will be revealed after submitting your ans

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Part B Inequality The Following Question Has 4 Parts A D Parts B To D Will Be Revealed After Submitting Your Ans 1 (64.88 KiB) Viewed 17 times

Part B Inequality The Following Question Has 4 Parts A D Parts B To D Will Be Revealed After Submitting Your Ans 2 (41.98 KiB) Viewed 17 times

Part B: Inequality The following question has 4 parts (a.-d.), parts b. to d. will be revealed after submitting your answer by hitting "Verify" on the preceding sections. Suppose an economy is composed of 10 individuals. The following table shows their annual income in thousands of dollars. Individual Individual 1 Individual 2 Individual 3 Individual 4 Individual 5 Individual 6 Individual 7 Individual 8 Individual 9 Individual 10 Income 51 33 14 10 87 19 35 53 90 59

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

a. What is the average income in each quintile? Express your answer in thousands of dollars rounded to the nearest first decimal. Quintile 1: 5.3 Correct response: 12±0.1 X Quintile 2: 11.5 Correct response: 26±0.1 Quintile 3: 19.1 Correct response: 43±0.1 (X) Quintile 4: 24.8 Correct response: 56±0.1 Quintile 5: 39.2 Correct response: 88.5±0.1