The table below shows the distribution of income in the U.S. in the year 1978. Table 19.1 Percent...

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Economics

The table below shows the distribution of income in the U.S. inthe year 1978.
Table 19.1
Percent Distribution of Aggregate Household Income in1978, by Fifths of Households
Households
Percent of Income
Lowest Fifth
(under $6,391)
4.3
Second Fifth
($6,392 - $11,955)
10.3
Third Fifth
($11,956 - $18,122)
16.9
Fourth Fifth
($18,122 - $26,334)
24.7
Top Fifth
($26,335 and over)
43.9
Refer to Table 19.1. What percentage of income is received bythe bottom 20% of the households?
a.
10.3%
b.
43.9%
c.
24.7%
d.
4.3%
e.
16.9%
According to Table 19.1, what percentage of income is receivedby the top 40% of the population?
a.
41.6%
b.
51.9%
c.
60.8%
d.
56.2%
e.
68.6%

Answer & Explanation Solved by verified expert

3.8 Ratings (722 Votes)

In the table above households are already divided into quintilethat means divided into five equal groups according to thedistribution of values of a particular variable which is income ofhouseholds in above questionSo we can rewrite the table above asfollowsHouseholds See Answer

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