Final answer:
To find the share of total income for each quintile, arrange incomes in order, divide into quintiles (each with 20% of the group), sum the income for each quintile, and compute each quintile's share of the total income. Without the U.S. income data for 2005, comparisons cannot be made with certainty. This process is essential to understand income distribution and equality within a given population.
Step-by-step explanation:
To calculate the share of total income each quintile of a given income distribution receives, first, we need to organize the annual incomes in ascending order and then divide the group into quintiles, which are segments containing 20% of the population each. In this case, since we have a group of 10 people, each quintile will consist of 2 people. After summing up the incomes of each quintile, we find the total sum of all the incomes and then calculate what percentage of the total income each quintile represents.
Then we can compare those shares to the shares of the top and bottom quintiles of the U.S. income distribution for a given year, which requires knowing the specific data for the U.S. income distribution for that year. Without that specific data, we cannot definitively answer whether the top and bottom quintiles in our group's distribution have a greater or larger share of total income compared to the U.S. income distribution for 2005.