MAth in Context 5: The Gini index is a statistical The Gini index is defined to be measure of income distribution. two times the area between the It ranges from 0 (or 0%) for line of perfect equality (y=x) and perfect equality to 1 (or 100%) the Lorenz curve, showing the for perfect inequality. percentage of income held by . A country where every each percentile of the country's resident has the same population: income would have a Gini 1. Perfect Equality 2. Unequal index of 0. 100% . . . . . A country in which one resident earned all the G1=0 %Participation Cumulative income, while everyone else G2>0 earned nothing, would have a 096 Gini index of 1. 0% Cumulative 1006 0% Cumulative 100% %Population %Population 3. More Unequal 4. Total Inequality . . . . . . . . . . . . . Source: https://data. worldbank.org/indicator/SI.POV.GINI?vi ew= map G3>G2 G4=1 0% Cumulative 100% 0% Cumulative 100% % Population %Population Give Feedback to Microsoft Notes + 88%Mm in Context 5: The Gini index is defined to be two times the area between the line of perfect equality (y=x) and the Lorenz curve, showing the percentage of income held by each percentile of the country's population. 1.2 0.8 0.6 0.4 0.2 Cumulative Wealth 0. 2 A Shade in the area we need to find to calculate the Gini index. Write a definite integral for this area. Lorenz Curve -- Thailand OThailand 0 Line of Equality y = 4.2969x5 8.0208X4 + 5.4323x3 - 1.0792X2 + 0.3708x O 0.2 0.4 0.6 0.8 1 1.2 Cumulative Percentage of the Population Give Feedback to Microsoft f Notes = ES l? I + 88% MAth in Context 5: The Gini index is defined to be Find the Gini index for Thailand, two times the area between making sure to show all your the line of perfect equality work. (y=x) and the Lorenz curve, showing the percentage of income held by each percentile of the country's population. Give Feedback to Microsoft Notes 19 - + 88%Mm in Context 5: The Gini index is defined to be two times the area between the line of perfect equality (y=x) and the Lorenz curve, showing the percentage of income held by each percentile of the country's population. Shade in the area we need to find to calculate the Gini index. Write a definite integral for this area. Lorenz Curve -- United States 0 United States 0 Line of Equality y = 4.1667x5 7.7865x4 + 5.3021x3 1.2 1 - 0.851x2 + 0.1688x E. E 0.8 a: g 0.6 (D .2 E 0.4 E 3 0.2 U 0 0 0.2 0.4 0.6 0.8 1 1.2 -02 . . Cumulative Percentage of the Population Give Feedback to Microsoft % Notes [El 55 I I + 88% (Q) MAth in Context 5: The Gini index is defined to be Find the Gini index for the United two times the area between States, making sure to show all the line of perfect equality your work. (y=x) and the Lorenz curve, showing the percentage of income held by each percentile of the country's population. Give Feedback to Microsoft Notes + 88%Mm in Context 5: The Gini index is defined to be Does Thailand or the United two times the area between States have more income the line of perfect equality equality? Explain. (y=x) and the Lorenz curve, showing the percentage of income held by each percentile of the country's population. A Give Feedback to Microsoft f Notes = 33 'E' MAth in Context 5: The Gini index is defined to be Visit the website two times the area between https://data. worldbank.org/indic the line of perfect equality ator/SI.POV.GINI?view= map (y=x) and the Lorenz curve, and find a country whose income showing the percentage of equality surprises you. Explain. income held by each percentile of the country's population. Give Feedback to Microsoft Notes 88 + 88%