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 total income of the population is $10,000 ($5,000 + $2,500 + $1,250 + $750 + $500). 
The lowest 60% of the population is the first three members, with a total income of $9,750 ($5,000+$2,500+$1,250). 
Therefore, the percentage of total income received by the lowest 60% is (9,750/10,000) x 100 = 97.5%, which rounded to the nearest whole number is 98%, but the answer choices do not reflect this, so the closest option is 25%.

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