Suppose the members of population A, consisting of Al, Bob, Curt, Doris, and Ellie, receive annual incomes of $5,000, $4,000, $3,000, $2,000, and $1,000, respectively. What percentage of total income is received by the fourth quintile?

Question

Quizplus · Accepted Answer

The fourth quintile includes the fourth highest income, which is $2,000. The total income is $15,000. The percentage is ($2,000/$15,000) * 100 = 13.3%. However, the closest option is 26.7%, which is the percentage of income received by the top two quintiles combined.

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