Business

Question

15 POINTS!

Please use the pic to answer these questions.

1. What does the curved line represent in the graph?
2. According to the table, what percentage of total income does the highest fifth of the population receive?
3. According to the table, what percentage of total income does the lowest fifth of the population receive?
4. What does the straight line on the graph represent?
15 POINTS! Please use the pic to answer these questions. 1. What does the curved line represent in the graph? 2. According to the table, what percentage of tota

2 Answer

  • 1. The curved line represents the distribution of cumulative % of income among individuals arrayed by fifths or quintiles.
    2. According to the table the highest fifth of the population receives 50.1% of the income.
    3. The lowest fifth receives 3.5% of the income.
    4. The straight line represents the ideal or equal distribution of income among individuals. The further away the curved line is from the straight line, the more unequal the distribution of income in the population under study is.
  • The correct statements are that -

    1. The curved line represents the percentage of the cumulative income of the group.

    2. The highest fifth of the population receives about 50.1% of their total income.

    3. As per the table, the lowest fifth of the population receives about 3.5% of their total income.

    4. The straight line is a representative of equal way of distribution of the income.

    What is a total income?

    • Total income refers to as such income, which is the amount of monies earned during such period from different sources by the person without making any deductions.

    • The graph of people belonging to different groups is a graphical representation of people as per their income slab.

    Hence, the correct statements in regard to the total income of groups in the graph are as aforementioned.

    Learn more about total income here:

    https://brainly.com/question/17961582

NEWS TODAY