Question

calculate average income for both countries
country A 9500,10500,9800,10000,10299
country B
500,500,500,500,48000
give solution pic also

Answer 1

For country A, 8349.83
For country B, 10000

Answer 2

Answer:

The average income for country A= 10019.8 and country B= 10000.

Explanation:

Country A has five population groups with the incomes of 9500, 10500, 9800, 10000, 10299 respectively.

Country B has five population groups with incomes of 500, 500, 500, 500, 48000 respectively.

The average income for both countries are to be calculated.

The formula of average income of a country = ∑ incomes given/ no. of populations.

The average income of country A= $\frac{9500+10500+9800+ 10000+10299}{5}$

= 50099/5 = 10019.8

The average income of Country B= $\frac{500+500+500+500+48000}{5}$

= 50000/5= 10000.

So, the average income for country A= 10019.8 and country B= 10000.

The following things can be interpreted from the given data and results-

• Both the country are not equally developed as country B has a high concentration of wealth in the small group of population and on the other hand Country A has an equitable distribution of income among the groups of populations.
• County A is better than country B because it has the more equitable distribution of wealth within the country among the population groups.

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