Which distribution is more unequal based on the figures

Reference no: EM13185473

Draw Lorenz curves for 2 income distributions. Can you say which distribution is more unequal based on the figures?

Income Distribution in Avataria: ($100, $200, $300, $400); (50, 25, 100, 25)

Income Distribution in Twilightia: ($100, $500, $550, $850); (100, 50, 200, 50)

Note that the first set of numbers represents the various incomes; whereas the second set of numbers represents the number of people earning each of these incomes. For example, in Avataria there are 50 people with the income of $100, 25 people with the income of $200, and so on. (Hint. It may be easier to use Excel than do all the calculations manually)

Reference no: EM13185473

Questions Cloud

Explain what mass of solid pbcl2 is formed : What mass of solid PbCl2(278.10 g/mol) is formed when 200 mL of .125 M Pb2+

Drug control policy strategies presented : Presentation on the advantages and disadvantages of the three drug control policy strategies presented during the open hearing in the scenario

Find how far away would mercury from sun : If the sun (diameter 864,000 miles) were the size of an NBA basketball (29.5 in), how far away would mercury

What is the size of the sampling error : Consider the following sample of nine wait times measured in seconds at a drive through coffee shop. The population mean and standard deviation are 100 and 20 respectively. 125 95 66 116 99 91 102 51 110 a. What is the size of the sampling error i..

Which distribution is more unequal based on the figures : Note that the first set of numbers represents the various incomes; whereas the second set of numbers represents the number of people earning each of these incomes. For example, in Avataria there are 50 people with the income of $100, 25 people wit..

Explain sodium carbonate and silver nitrate reaction : Solutions of sodium carbonate and silver nitrate react to form solid silver carbonate and a solution of sodium nitrate. A solution containing 3.60g of sodium carbonate is mixed with one containing 5.14 of silver nitrate.

What is the best predicted job performance rating : Find the best predicted value of y corresponding to the given value of x. The regression equation relating attitude rating (x) and job performance rating (y) for the employees of a company is hat(y)=11.7+1.02x. Ten pairs of data were used to obtai..

Explain the sulfur dioxide reacts with solid calcium oxide : A particular coal contains 2.5% sulfur by mass. When this coal is burned, the sulfur is converted into sulfur dioxide gas.The sulfur dioxide reacts with solid calcium oxide to form solid calcium sulfite CaO(s)+SO2(g)?CaSO3(s),S(s)+O2(g)?SO2(g)

What is the probability that it will be the jack of hearts : One card will be randomly selected from a standard 52-card deck of cards. What is the probability that it will be the jack of hearts?

User Account

All Pages