Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented below in the table are the average weekly expenditure (S) of households headed by elderly people aged 65 and above on recreational activities in

image text in transcribed

Presented below in the table are the average weekly expenditure (S) of households headed by elderly people aged 65 and above on recreational activities in Community A and Community B. Number of Households headed by people aged 65 and above Groups Average weekly expenditure on recreational activities ($) Community A Community B 1 30 240 50 2 60 150 40 3 90 90 30 120 80 230 5 150 90 300 Total 650 650 Using the information provided above, i) calculate the Gini Coefficient of weekly expenditure on recreational activities by households headed by elderly people aged 65 and above in Community A and in Community B (Please keep 4 decimal places for all percentages and Gini coefficients. You must show necessary working steps.). [16 marks] ii) comment on the differences of the Gini Coefficients obtained in part i). [2 marks] 111) Assuming a recent policy initiative has just been implemented that provides additional cash income to elderly aged 65 and above, briefly discuss the potential impact of this initiative on the pattern of consumption of households headed by elderly people aged 65 and above in Community A and Community B. [2 marks] Presented below in the table are the average weekly expenditure (S) of households headed by elderly people aged 65 and above on recreational activities in Community A and Community B. Number of Households headed by people aged 65 and above Groups Average weekly expenditure on recreational activities ($) Community A Community B 1 30 240 50 2 60 150 40 3 90 90 30 120 80 230 5 150 90 300 Total 650 650 Using the information provided above, i) calculate the Gini Coefficient of weekly expenditure on recreational activities by households headed by elderly people aged 65 and above in Community A and in Community B (Please keep 4 decimal places for all percentages and Gini coefficients. You must show necessary working steps.). [16 marks] ii) comment on the differences of the Gini Coefficients obtained in part i). [2 marks] 111) Assuming a recent policy initiative has just been implemented that provides additional cash income to elderly aged 65 and above, briefly discuss the potential impact of this initiative on the pattern of consumption of households headed by elderly people aged 65 and above in Community A and Community B. [2 marks]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Retail Investor In Focus The Indian IPO Experience

Authors: Parimala Veluvali

1st Edition

3030127559,3030127567

More Books

Students also viewed these Finance questions

Question

Have you told your doctor about these activities? Why or why not?

Answered: 1 week ago

Question

107 MA ammeter 56 resistor ? V voltmeter

Answered: 1 week ago

Question

Generally If Drug A is an inducer of Drug B , Drug B levels will

Answered: 1 week ago