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
Question
None
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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