Use the data below to compute for the Gini coefficient. Round off the Gini coefficient to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Use the data below to compute for the Gini coefficient. Round off the Gini coefficient to four (4) decimal places. INCOME CLASS (K) FIRST SECOND THIRD FOURTH FIFTH INCOME SHARE (YK) 0.02 0.12 0.28 0.28 0.30 POPULATION SHARE (X) 0.50 0.20 0.10 0.15 0.05 CUMULATIV E INCOME SHARE CUMULATIV E POPULATION SHARE 1. Fill up the last two columns of the table. (5 points) 2. Draw the Lorenz curve diagram. (5 points) 3. Find the Gini coefficient based on data given in the table. Show your solution. (10 points) 4. How would you describe the distribution of income? ( 5 points) 5. Is it possible for a country to be classified as low income but its distribution of income is not highly inequitable? Why or why not? (5 points) Use the data below to compute for the Gini coefficient. Round off the Gini coefficient to four (4) decimal places. INCOME CLASS (K) FIRST SECOND THIRD FOURTH FIFTH INCOME SHARE (YK) 0.02 0.12 0.28 0.28 0.30 POPULATION SHARE (X) 0.50 0.20 0.10 0.15 0.05 CUMULATIV E INCOME SHARE CUMULATIV E POPULATION SHARE 1. Fill up the last two columns of the table. (5 points) 2. Draw the Lorenz curve diagram. (5 points) 3. Find the Gini coefficient based on data given in the table. Show your solution. (10 points) 4. How would you describe the distribution of income? ( 5 points) 5. Is it possible for a country to be classified as low income but its distribution of income is not highly inequitable? Why or why not? (5 points)
Expert Answer:
Answer rating: 100% (QA)
To compute the cumulative income share and cumulative population share we can fill up the last two columns of the table as follows CLASS INCOME SHARE ... View the full answer
Related Book For
Microeconomics
ISBN: 978-0321866349
14th canadian Edition
Authors: Christopher T.S. Ragan, Richard G Lipsey
Posted Date:
Students also viewed these economics questions
-
At the beginning of 2019, Southwest Airlines fared third in the rankings of the best U.S. Airlines released by the Wall Street Journal. Delta Airlines ranked first and Alaska Airlines ranked second....
-
Let A, B be sets. Define: (a) the Cartesian product (A B) (b) the set of relations R between A and B (c) the identity relation A on the set A [3 marks] Suppose S, T are relations between A and B, and...
-
Shock Electronics sells portable heaters for $35 per unit, and the variable cost to produce them is $22. Mr. Amps estimates that the fixed costs are $97,500. a. Compute the break-even point in units....
-
In a recent survey of computer ownership, 73.4% of the respondents indicated they own PC computers, while 21.8% indicated they own both PC and Mac computers, and 80.1% said they own at least one of...
-
Singh Corporations accumulated depreciationequipment increased by $6,000, while $2,200 of patents were amortized between balance sheet dates. There were no purchases or sales of depreciable or...
-
Refer to the Arctic Springs Filtration Department Data Set. At Arctic Springs, water is added at the beginning of the filtration process. Conversion costs are incurred evenly throughout the process,...
-
As the accountant for Tooka's Trees, you need to prepare the payroll register for the payroll dated October 15, 2015. Employees are paid biweekly and are subject to a flat 3% state income tax. Use...
-
Draw energy band diagram for a MOS structure in thermal equilibrium with (a). P-type semiconductor. Use4 , 3.5 , 1.0m sc Gq eV q eV E eV = = = and calculate VFB. Estimate the required applied voltage...
-
The following data were obtained from a series of Charpy impact tests performed on four steels, each having a different manganese content. Plot the data and determine (a) The transition temperature...
-
Borrow Overseas Corp. (BOC) is a Canadian company that reports its financial results in Canadian dollars in accordance with IFRS. On December 31, 20X5, BOCs year-end, the company borrowed 1,000,000....
-
An undamped SDOF system with a mass of 32.2 kg and a natural frequency of wn is excited by a base excitation of y(t)=5*sin(32*t) mm and the measured response is x(t) = -2.2*sin(32*t) mm. What can be...
-
A constant electric field accelerates a proton from rest through a distance of 1.65 m to a speed of 1.57 x 105 m/s. (The mass and charge of a proton are mp = 1.67 x 10-27 kg and 9p = e = 1.60 x 10-19...
-
A 10 cm x 16 cm electronic device is air cooled using a stainless steel (k = 15 W/mK) heatsink with circular pin fins. The surface of the device must be maintained at 56C in an environment where the...
-
The aerodynamic drags on two similar trucks are to be tested. One of the trucks is installed with an air deflector while another truck is in its original condition as shown in Figure 1. The drag...
-
The water pressure at the base of the water tower shown in the figure is 2 . 9 bar. The water level is L = 2 0 m above the tower base. The density of the water is 1 0 3 kg / m 3 and g = 9 . 8 1 m /...
-
A cellphone service provider wants to analyze the signal strengths of its network. a) let X be the random variable that is the distance (in miles) that a customer will be to the nearest cellphone...
-
Grace is training to be an airplane pilot and must complete five days of flying training in October with at least one day of rest between trainings. How many ways can Grace schedule her flying...
-
Draw three graphs in which the dependent variable increases at an increasing rate, at a constant rate, and at a diminishing rate. Then draw three graphs in which it decreases at an increasing,...
-
Suppose there is a 10 percent increase in the prices of the following products. Keeping in mind how large a fraction of a typical consumer's budget these items are, explain whether you think the...
-
The diagram below shows the market for fast-food workers in British Columbia. a. The supply curve is upward sloping. If the wage in this industry rises, where do the extra workers come from? b....
-
Why can staging investment decisions add value?
-
In what circumstances does the real option add value?
-
Suppose Caterpillar, Inc., has 653 million shares outstanding with a share price of $75.14, and $25.99 billion in debt. If in three years, Caterpillar has 710 million shares outstanding trading for...
Study smarter with the SolutionInn App