Let's assume that in California, there is an organization, which has ten partners. The table below represents the annual income of these ten partners: Income $12,000 $37,000 $65,000 $131,000 $14,000 $44,000 $77,000 $25,000 $19,000 $31,000 What is the total amount of income comprising the highest quintile of this income distribution? 208,000

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter8: Business Organizations
Section8.2: Sole Proprietorships And Parternships
Problem 5R
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Let's assume that in California, there is an organization, which has ten partners. The table below
represents the annual income of these ten partners:
Income
$12,000
$37,000
$65,000
$131,000
$14,000
$44,000
$77,000
$25,000
$19,000
$31,000
What is the total amount of income comprising the highest quintile of this income
distribution?
208,000
Transcribed Image Text:Let's assume that in California, there is an organization, which has ten partners. The table below represents the annual income of these ten partners: Income $12,000 $37,000 $65,000 $131,000 $14,000 $44,000 $77,000 $25,000 $19,000 $31,000 What is the total amount of income comprising the highest quintile of this income distribution? 208,000
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