A very small town has only 15 households and they have the following annual incomes: $52,000, $22,000, $92,000, $8,000, $118,000, $62,000, $38,000, $14,000, $132,000, $46,000, $26,000, $96,000, $54,000, $110,000, $80,000. To calculate the share of income for each quintile, first we need to rank the given incomes from [rank]. Next, we [sum1] all the incomes to know the total income of the town. We then divide the households into [ngroups] equal-size groups called quintiles. Since there are 15 households, each quintile will have [groupsize] households. Within each quintile, we [sum2] to find that quintile’s group income. Finally, to find each quintile’s share of total income, we divide [numerator] by [denominator]. The share of income for the first quintile is [q1], second quintile is [q2], third quintile is [q3], fourth quintile is [q4], and fifth quintile is [q5]. In 2011, the bottom quintile of the U.S. income distribution received 3.2% of income and the top quintile received 51.14%. Compared to the U.S., this city has a [bottom] share of total income for the bottom quintile and a [top] share of total income for the top quintile. This suggests that this city has [inequality] income inequality than the U.S.
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