A sample of income group of 1172 families was surveyed and noticed that for groups?

Question

Answer

Survey Results of Income Groups

A survey was conducted on 1172 families to determine the different income groups of the participants. The results of the survey were analyzed and the following observations were made:

Out of the 1172 families surveyed, 352 families belonged to the low-income group, which is less than Rs. 25,000 per month.

436 families belonged to the middle-income group, which is between Rs. 25,000 to Rs. 50,000 per month.

258 families belonged to the high-income group, which is above Rs. 50,000 per month.

The remaining 126 families did not disclose their income group.

Analysis of Survey Results

Based on the survey results, the following observations can be made:

The majority of the families surveyed belonged to the middle-income group.

A significant number of families belonged to the low-income group, indicating that there is a significant population in the country that struggles to make ends meet.

The number of families in the high-income group was relatively low compared to the other two groups.

A small percentage of families did not disclose their income group, which may indicate a lack of transparency or reluctance to share their financial status.

Conclusion

The survey results provide valuable insights into the income distribution of families in the country. It is important for policymakers and government agencies to take these results into account while formulating policies and programs aimed at improving the economic conditions of low-income families. The results also highlight the need for greater transparency and accountability in disclosing financial information.

Similar CA Foundation Doubts

A sample of income group of 1172 families was surveyed and noticed that for income group?

A random sample of size 82 was taken to estimate the mean annual income of 500 families and the mean and SD were found to be Rs.7500 and Rs.80 respectively. What is upper confidence limit to the average income of all the families when the confidence level is 90 percent?

The average weekly food expenditure of a group of families has a normal distribution with mean of rs 1800 and standard deviation rs300. What is the probability that out of 5 families belonging to this group, at least one family has weekly food expenditure in excess of rs1800?

The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100?

Top Courses for CA FoundationView all

Quantitative Aptitude for CA Foundation

Principles and Practice of Accounting

Business Laws for CA Foundation

Business Economics for CA Foundation

Mock Tests & Past Year Papers for CA Foundation

Top Courses for CA Foundation

Top Courses for CA Foundation

Suggested Free Tests

Related Content

CA Foundation Courses

Other Courses

How To Prepare?

Other Exams

Company