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Suppose there are three households in a country, each of size 5. The official poverty line income level in that country is $100 per household
Suppose there are three households in a country, each of size 5. The official poverty line income level in that country is $100 per household per week. The income of the three households for a week are respectively, $ 40, $ 60 and $100. Compute the Watt's index with N as the normalization factor. [Given ln 40=3.69, ln 60=4.09, ln 100=4.61, ln 3= 1.09]
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