Suppose the members of population A, consisting of Al, Bob, Curt, Doris, and Ellie, receive annual incomes of $5,000, $2,500, $1,250, $750, and $500, respectively. What percentage of total income is received by the lowest 60 percent of the income receivers in population A?

Question

Quizplus · Accepted Answer

The lowest 60 percent of the income receivers in population A consists of Doris and Ellie, who receive a total of $750 + $500 = $1,250. The total income of population A is $5,000 + $2,500 + $1,250 + $750 + $500 = $10,000. Therefore, the percentage of total income received by the lowest 60 percent of the income receivers in population A is $1,250 / $10,000 * 100% = 12.5%.

Suppose the Members of Population A, Consisting of Al, Bob