Chapter 15, Problem 6SCQ

A group 0f 10 people have the following annual incomes: $\$\text{24},000,\text{ 18},000,\$\text{5}0,000,\$\text{1}00,000,\$\text{12},000,\$\text{36},000,\$\text{8}0,000,\$\text{1}0,000,\$\text{24},000,\$\text{16},000$.

Calculate the share of total income that each quintile receives from this income distribution. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution?