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How do you get percentage of national income formula?
The percentage that variable Y accounts for is 100*Variable Y/National Income
What additional criteria must be met for a variable to be considered ordinal that is not a requirement for nominal-level measurement?
Just one criterion: it must be possible to put the levels of the variable in order. For example, people in a population might be categorised in terms of their incomes as low income, medium income and high income. In this instance, the income levels display an inherent ordering. Please see the link.
A family spends 20 of its monthly income on food 23 on rent and 42 on other expenses and saves the balance If the family saves 360 per month what is its monthly income?
20%(food) + 23%(rent) + 42%(other expenses) = 85% food, rent, and other expenses is 85% of the income so then the savings is 15% of the family income 100% - 85% = 15%(savings) 360(savings) is 15% of the family income 15/100 = 360/x if 360 is 15% of the family income the total of the family income is 2400 20%(food) + 23%(rent) + 42%(other expenses) = 85% food, rent, and other expenses is 85% of the income so then the savings is 15% of the family income 100% - 85% = 15%(savings) 360(savings) is 15% of the family income 15/100 = 360/x if 360 is 15% of the family income the total of the family income is 2400
How to calculate percentage income?
average income and primary expenses for a stereotypical family of four in the mid-1970's and mid-2000's. In the 1970's example the father works full time and the mother stays home. In the 2000's example, the mother and the father both work outside the home. Dollar values are inflated into consistent terms. The income and expenses were researched for and presented in The Two Income Trap by Elizabeth Warren and Amelia Tyagi.
A family spends 9 percent of it income on entertainment how much do they spend if their monthly income is 5000?
450 dollars would be spent a month on entertainment if the family spends nine percent of their $5000 income monthly on that. You figure this by multiplying .09 by 5000 giving 450, which is the amount spent monthly on entertainment.
