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Lorenz curve y = f ( x ) is used to represent a wealth distribution in a nation. The entire population is plotted along the
Lorenz curve is used to represent a wealth distribution in a nation. The
entire population is plotted along the axis from poorest to richest, and the height
of the curve on the axis shows the percentage of total income received by the
proportion of the population given on the axis. Graph of function called
the line of perfect equality, represents the population where everyone has the same
income. The area between the graphs of the two functions for shows
the country's income inequality.
The table below gives the percentage of income for selected percentages of people
in a country.
c Using the obtained curve, approximate the income inequality for the given
country.
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