Gradebo estion 7 of 15 Map Sapling Learning The data in the corresponding table

Question

Gradebo estion 7 of 15 Map Sapling Learning The data in the corresponding table characterizes the income distribution for a country. What percentage of the total population is categorized as belonging to the 2nd quintile? Share of Income (%) Cumulative Income Category | Share of Income (%) 1st Quintile 2nd Quintile 3rd Quintile 4th Quintile 5th Quintile Number 1.0 9.0 10.0 20 | % 33.0 25.0 What percentage of the total income for the country is earned by the 3rd quintile? 42.0 rect. Note that the first quintile earns 1.0% of the income and the second earns 0%. Together, the cumulative share of the lowest 40% is the sum of the income earned by these two groups (10.0%) What does thi smply about the relationship Number % between "Share of incorne" and "cumulative share of Idomeg What is the curnulative share of income earned by the poorest 80% of the population? Number O Previous Gívu Up & Viow Solution # Try Again O Next Exit-

Explanation / Answer

ANSWER:

1)

Total income = 100%

Cumulative share of 1st , 2nd and 3rd quintile = 33%

Cumulative share of 1st and 2nd quintile = 10%

share of income of 3rd quintile = Cumulative share of 1st , 2nd and 3rd quintile - Cumulative share of 1st and 2nd quintile = 33% - 10% = 23%

2)

Poorest 80% of the population cumulative share = 1st quintile + 2nd quintile + 3rd quintile + 4th quintile = 1% + 9% + 23% + 25% = 58%

so the cumulative share of the poorest 80% of the population is 58%

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