The Gini Index is a measure of how evenly income is distributed within a country, ranging from
Question:
The Gini Index is a measure of how evenly income is distributed within a country, ranging from 0 to 100. An index of 0 suggests income is distributed with perfect equality. The higher the number, the worse the income inequality. The data below represent the Gini Index for a random sample of countries. The United States has a Gini Index of 45 and Sweden has the lowest Gini Index.
With a first class having a lower class limit of 20 and a class width of 5:
(a) Construct a frequency distribution.
(b) Construct a relative frequency distribution.
(c) Construct a frequency histogram of the data.
(d) Construct a relative frequency histogram of the data.
(e) Describe the shape of the distribution.
(f) Repeat parts (a)–(e) using a class width of 10.
(g) Does one frequency distribution provide a better summary of the data than the other? Explain.
23.0 27.0 30.0 32.0 34.0 36.5 38.5 40.0 41.9 45.0 47.2 50.4 55.1 23.8 27.2 30.3 32.1 34.1 36.7 39.0 40.0 42.4 45.3 47.4 50.8 57.7 24.3 27.4 30.6 32.6 34.2 36.8 39.0 40.1 42.5 45.3 47.5 50.9 58.5 24.7 28.0 30.7 32.7 34.4 40.2 24.8 28.0 30.9 32.8 34.5 36.8 39.0 43.2 45.5 47.7 51.9 59.2 36.8 39.0 40.5 43.7 45.6 47.8 51.9 59.7 37.6 39.2 40.8 44.3 45.8 48.3 52.1 61.3. 49.0 53.0 62.9 25.0 28.2 30.9 33.0 35.2 26.0 28.2 31.0 33.2 35.3 37.6 39.4 40.9 44.5 46.0 26.0 28.9 31.3 33.2 35.5 37.6 39.4 41.3 44.6 46.2 50.1 53.2 63.0. 41.5 44.6 46.8 50.2 53.6 63.1 26.0 29.0 31.9 33.4 36.2 37.7 39.5 26.3 29.6 31.9 33.7 36.2 37.9 39.7 41.7 44.8 46.9 50.3 53.7 63.2 26.8 30.0 32.0 33.9 36.5 38.0.
Step by Step Answer:
a b Relative frequency of a Gini Index of 20249 5136 0037 and so on c d e The shape of the ...View the full answer
Students also viewed these Business questions
-
The Gini Index is a measure of how evenly income is distributed within a country, ranging from 0 to 100. An index of 0 suggests income is distributed with perfect equality. The higher the number, the...
-
The windchill (or windchill factor) is a measure of how cold you feel as a result of being exposed to wind. Table 64 pro- vides some data on windchills for various temperatures when the wind speed is...
-
The Fan Cost Index (FCI) is a measure of how much it will cost a family of four to attend a professional sports event. In 2014, the FCI prices for Major League Baseball and the National Football...
-
Listed below are the genders of the younger winner in the categories of Best Actor and Best Actress for recent and consecutive years. Do the genders of the younger winners appear to occur randomly? F...
-
Several managers in your company are experiencing personal financial problems and have asked that your company switch from LIFO to FIFO so that they can receive bigger bonuses, which are tied to the...
-
A 2.0 kg wood block is pulled along a wood floor at a steady speed. A second wood block, with mass 3.0 kg, is attached to the first by a horizontal string. What is the magnitude of the force pulling...
-
What is the role of Government Business linkages in creating emerging market challengers? Do you think that emerging and transition economies can move to a more hands-off approach with time? LO.1
-
Income statements for Thompson Company for 2011 and 2012 follow. Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2011 and 2012. b....
-
Accounting
-
Determine the placement distance of the roller support so that the largest absolute value of the moment is a minimum. Draw the shear and moment diagrams for this condition. B.
-
Open the data set 2_2_40, which represents the life expectancy of individuals born in the given year for the years 1960 to 2016 in the United States. Construct a time-series plot and comment on any...
-
Will and Grace are the only two people in the economy. Wills utility is given by U W = 100(y W ) 0.5 while Graces utility depends not only on her own income but also on Wills utility. Her utility...
-
Find the mass of the following thin bars with the given density function. {;. if 0 < x < 2 P(x) + x if 2 < x < 4
-
Watch the clip from HBO's Chernobyl and respond to the questions below using complete sentences....
-
1) Every organization has a unique culture. As you move forward with a travel or per diem position, what steps will you take to learn about your assignment organization's culture? 2)Flexibility and...
-
See the right figure of the lifting and transporting equipment. During operation, while a mass of 1.5 x 104 kg was descending at a constant speed v = 15 m/min, the machine experienced a breakdown,...
-
PROBLEM 3 BABEY Company makes three products with the following characteristics: Product V jk jin Selling price per unit 10 15 20 Variable cost per unit 6 10 10 Machine hours per unit 2 4 10 The...
-
Diversified Semiconductors sells perishable electronic components. Some must be shipped and stored in reusable protective containers. Customers pay a deposit for each container received. The deposit...
-
1. Provide an example of the utilitarian approach in organizations (think of a decision that does the most good for the most people). 2. How does the utilitarian approach in your example differ from...
-
Why is it important to understand the macro-environment when making decisions about an international retail venture?
-
The following data represent the number of customers waiting for a table at 6:00 p.m. for 40 consecutive Saturdays at Bobaks Restaurant. (a) Are these data discrete or continuous? Explain. (b)...
-
The following data represent the per capita (average) disposable income (income after taxes) for the 50 states and the District of Columbia in 2009. With the rst class having a lower class limit of...
-
The following data represent the percentage of people without health insurance for the 50 states and the District of Columbia in 2009. With the rst class having a lower class limit of 4 and a class...
-
A company manufactures lawnmowers. Compute the total amount of period costs from thr following costs.
-
TestAnswerSavedHelp opens in a new windowSave & ExitSubmit Item 1 7 1 0 points Time Remaining 1 hour 2 0 minutes 1 8 seconds 0 1 : 2 0 : 1 8 Item 1 7 Time Remaining 1 hour 2 0 minutes 1 8 seconds 0 1...
-
Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance...
Study smarter with the SolutionInn App