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The following Lorenz curvos represent the distribution of income for a small country in 2015 and...
Suppose the Lorenz curve for the distribution of income of a certain country is given by the equation shown below. y = xe8x - 8 Find the Gini coefficient of income. (Round your answer to three decimal places.) Need Help? Read It Talk to a Tutor
x-2 Find the Gini index of income concentration for the Lorenz curve with equation y =xe The Gini index isRoud to the nearest thousandth as needed.) x-2 Find the Gini index of income concentration for the Lorenz curve with equation y =xe The Gini index isRoud to the nearest thousandth as needed.)
3. The Gini Index Problem How is possible to measure the distribution of income among the inhabitants of a given country One such measure is the Gini index, named after the Italian economist Corrado Gini, who first devised it in 1912. We first rank all households in a country by income and then we compute the percentage of households whose income is at most a given percentage of the country's total income. We define a Lorenz Curve y L(x) on...
I need help with this question please! - 4 marks) In economics, a population's Lorenz curve L(2) gives the percentage (as a decimal) of the country's distribution of wealth among the lowest earning percentage 2 (as a decimal between 0 and 1; e.g., 35% means x = 0.35) of the population. As an example, if L(0.4) = 0.1, then this means that the lowest earning 40% of households have only 10% of the entire economy's wealth. The line y =...
• Consider the following Lorenz curves for two countries. Country 1: cis = cip4 Country 2: cis = cip cis: cumulative income share (1 = 100%) cps: cumulative population share (1 = 100%) • Which of the following statements is correct? a) Country l’s Gini index is 3/5. b) Country 2’s Gini index is 5/7. c) Both a and b. d) None of the above.
Mars has an income distribution that can be modeled by the Lorenz Curve L(x)=x2.75 a. What percent of the wealth do the poorest 35% of Martians control? Round your answer to 2 decimal places b.What is Mars's Gini Index? Round your answer to 2 decimal places.
Q3 15 point 3 Country A has an income distribution given by f(x) 2. (a) Explain what does f(0.2) = 0.1314 mean. (b) If country B has a Gini coefficient of 0.2. Which country (A or B) has a more equitable income distribution?
Question Help The histogram shows the distribution of hurricanes that have hit a country from 1851 through 2015, where 1 is the weakest level and 5 is the strongest level. (a) Find the mean, variance, and standard deviation of the probability distribution (b) Interpret the results. Hurricanes 0.5 0.410 Probability 0.257 0222 0.4 0.3 0.2 0.1 0.04 0.000 0.012
4) In a certain state, it is found that the distribution of income for lawyers is given by the Lorenz curve L (r) = while that of surgeons is given by L2(r) = {x4 + }r Compute the Gini index for each Lorenz curve. Which profession has the more equitable income distribution? 5) An investment will generate income continuously at the constant rate of $1000 per year for 6 years. If the prevailing annual interest rate remains fixed at 7%...
6. Below is the income distribution of country X and Y. The citizens’ income are ranked from the lowest to the highest in the bracket (currency unit: $). Suppose the poverty line is $2000. Country X: $ (750, 1100, 2500, 6000) Country Y: $ (450, 900, 1100, 1600, 2400, 2500, 3000, 5000) Please draw the parade of dwarfs for the two countries respectively. (4pts) Please calculate the headcount poverty rate for the two countries. Compare your results to draw conclusions...