A group of 10 golfing buddies have the following annual incomes: $32,000, $12,000, $56,000, $120,000, $10,000, $38,000, $70,000,
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The lowest quintile received $22,000.
Data and Calculations:
The number of golfing buddies = 10
A. = $10,000
B. = $12,000
C. = $16,000
D. = $20,000
E. = $24,000
F. = $32,000
G. = $38,000
H. = $56,000
I. = $70,000
J. = $120,000
Total - $398,000
The lowest, first, or bottom quintile is between 0 to 20%.
Thus, the lowest quintile received $22,000 ($10,000 + $12,000) from the income distribution.
Learn more: lowest quintile here: brainly.com/question/2392523
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