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“An equitable system of public finance aims at even distribution of income and wealth among the various sections of a country.”
You are required to discuss the following:
The income distribution function and any THREE instruments that could be used by government.
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The table below shows the hypothetical incomes of some families in a locality:
| Income (N) | Percent (%) |
|---|---|
| 1000 – 1999 | 6.2 |
| 2000 – 2999 | 5.9 |
| 3000 – 3999 | 7.2 |
| 4000 – 4999 | 8.8 |
| 5000 – 5999 | 7.8 |
| 6000 – 6999 | 15.0 |
| 7000 – 7999 | 17.6 |
| 8000 – 8999 | 12.8 |
| 9000 – 9999 | 8.5 |
| 10,000 – 10,999 | 10.2 |
Required:
a. Determine the semi-interquartile range for the incomes of the families. (10 Marks)
b. Determine the standard deviation for the incomes of the families. (10 Marks)
(Total: 20 Marks)
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
“An equitable system of public finance aims at even distribution of income and wealth among the various sections of a country.”
You are required to discuss the following:
The income distribution function and any THREE instruments that could be used by government.
Find Related Questions by Tags, levels, etc.
The table below shows the hypothetical incomes of some families in a locality:
| Income (N) | Percent (%) |
|---|---|
| 1000 – 1999 | 6.2 |
| 2000 – 2999 | 5.9 |
| 3000 – 3999 | 7.2 |
| 4000 – 4999 | 8.8 |
| 5000 – 5999 | 7.8 |
| 6000 – 6999 | 15.0 |
| 7000 – 7999 | 17.6 |
| 8000 – 8999 | 12.8 |
| 9000 – 9999 | 8.5 |
| 10,000 – 10,999 | 10.2 |
Required:
a. Determine the semi-interquartile range for the incomes of the families. (10 Marks)
b. Determine the standard deviation for the incomes of the families. (10 Marks)
(Total: 20 Marks)
Find Related Questions by Tags, levels, etc.
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