Proportions: distribution of incomes in a certain city's population

barbsabbs

New member
Joined
Dec 28, 2017
Messages
5
The distribution of income (in minimum salaries) of the certain city population is given below:
(%): 54 | 23 | 10 | 5 | 8 |
Income range: (0-2] (2-4] (4-6] (6-10] (No statement]


Get a new income distribution, considering only the people who declare some income. From the distribution obtained by you, calculate:

a) The average income;
b) The proportion of people receiving up to 1.5 minimum wages.
c) The income range corresponding to the richest 10%.
 
This is a good problem. You should show us what you know.

1) Recalculating the distribution still requires the probabilities to add up to 100%.
2) A representative value will be needed for each range. Typically, and lacking other information, this is taken to be the midpoint of the range.

Let's see what you get!
 
Top