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Lorenz/Gini Index a: Gotham City has an income distribution that can be modeled by the Lorenz Curve L ( x )= 1 / 1 0

Lorenz/Gini Index

a:

Gotham City has an income distribution that can be modeled by the Lorenz Curve

L(x)=1/10x2+9/10x What percent of the wealth do the upper 20% control? Round your answer to 2 decimal places.

What is the Gotham City's Gini Index? Round your answer to 2 decimal places.

Metropolis has a Gini index of 0.0133. Which city's income is more equitably distributed?

b:

Narnia has an income distribution that can be modeled by the Lorenz Curve

L(x)=3/10x2+7/10x

What percent of the wealth do the richest 5% of Narnians control? Round your answer to 2 decimal places.

What percent of the wealth do the richest 5% of Narnians control? Round your answer to 2 decimal places.

Wardrobe has a Gini index of 0.0400. Which land's income is more equitably distributed?

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