how to find the 90/10 income ratio? What is the mcan, median, and 90/10 income ratio of this group of collegeseniors? (hint: rank income from low to high, use the Nth as N*10 percentile)Billy $20,000Kasia $24,000Rose $29,000Charlie $31,000Yukiko $32,000Nina $34,000Thomas $35,000Raul $37,000Becky $42,000Willis $60,000The mean=34,400The median-32,00090/10 income ratio=42,000/20,000-2.1

The mean of a sample is the sample average. It is calculated by dividing the total value by the…

What is the mean, median, and 90/10 income ratio of this group of college seniors? (hint: rank income from low to high, use the Nth as N*10 percentme) Billy $20,000 Kasia $24,000 Rose $29,000 Charlie $31,000 ukiko $32,000 Nina $34,000 Chomas $35,000 Raul $37,000 Becky $42,000 Villis $60,000 The mean-34,400 The median-32,000 0/10 income ratio=42,000/20,000-2.1

What is the mean, median, and 90/10 income ratio of this group of college seniors? (hint: rank income from low to high, use the Nth as N*10 percentme) Billy $20,000 Kasia $24,000 Rose $29,000 Charlie $31,000 ukiko $32,000 Nina $34,000 Chomas $35,000 Raul $37,000 Becky $42,000 Villis $60,000 The mean-34,400 The median-32,000 0/10 income ratio=42,000/20,000-2.1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

how to find the 90/10 income ratio?

What is the mcan, median, and 90/10 income ratio of this group of college
seniors? (hint: rank income from low to high, use the Nth as N*10 percentile)
Billy $20,000
Kasia $24,000
Rose $29,000
Charlie $31,000
Yukiko $32,000
Nina $34,000
Thomas $35,000
Raul $37,000
Becky $42,000
Willis $60,000
The mean=34,400
The median-32,000
90/10 income ratio=42,000/20,000-2.1

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