A city has only 10 households, and they have thefollowing annual incomes: $32,000, $12,000,$56,000, $120,000, $10,000, $38,000, $70,000,$16,000, $20,000, $24,000. Based on thisinformation, answer the following:a. Calculate the share of total income received byeach quintile of this income distribution. Showyour work!b. Do the top and bottom quintiles in thisdistribution have a greater or larger share of totalincome than the top and bottom quintiles of theU.S. income distribution for 2011? Compared tothe U.S. does this city have higher or lower incomeinequality?(In 2011, the bottom quintile of the incomedistribution received 3.2% of income and the topquintile, 51.14%)

Answered: Image /qna-images/answer/15aef5fc-70d9-46d9-8ae1-e85e42f8e9e9.jpg

Answered: A city has only 10 households, and they…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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