Question 1 Report
A village consists of twenty (20) households with the following annual incomes-
(Incomes $00) 30 20 50 40 60 40 40 50 20 60 80 40 20 20 70 40 70 30 40 80
(a) Determine the (i) mean income: [4 marks] (ii) modal income; [ 2 marks] (iii) median income. [2 marks]
(b) What is the range of income distribution? [2 marks]
(c) Calculate the total tax that could be generated from the village if (i) a flat rate tax of 7% is imposed on all households; [5 marks] (ii) a flat rate tax of 15% is imposed on all households earning $4,000 per annum and above. [5 marks]