Describe lorenz curve., Advanced Statistics

Assignment Help:

Lorenz curve: Essentially the graphical representation of cumulative distribution of the variable, most often used for the income. If the risks of disease are not monotonically increasing as the exposure becomes heavier, the data have to be arranged again from the lowest to the highest risk before the calculation of cumulative percentages. Associated with such type of curve is the Gini index defined as twice the area between curve and diagonal line. This index is lies between zero and one, with the larger values indicating the larger variability while smaller ones signify larger uniformity. The further the Lorenz curve lies below line of equality, the more unequal is the distribution of, the figure for this is given below

2145_lorenz curve.png 


Related Discussions:- Describe lorenz curve.

Confidence interval estimation, An auditor for a government agency needs to...

An auditor for a government agency needs to evaluate payments for doctors' office visits paid by Medicare in a small regional town during the month of June. A total of 25,056 visit

Collective risk models, Collective risk models : The models applied to insu...

Collective risk models : The models applied to insurance portfolios which do not create direct reference to the risk characteristics of individual members of the portfolio when des

Expected monetary value, Ask quesoil company is considering whether or not ...

Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com

Dot plot, The more effective display than a number of other methods or tech...

The more effective display than a number of other methods or techniques, for instance, pie charts and bar charts, for displaying the quantitative data which are labeled. An instanc

Incubation period, Incubation period is the time elapsing amongs the receip...

Incubation period is the time elapsing amongs the receipt of infection and the appearance of the symptoms. The length of the incubation time period depends on the disease, ranging

Data monitoring committees (dmc), Committees to monitor the accumulating da...

Committees to monitor the accumulating data from the clinical trials. Such committees have chief responsibilities for ensuring the continuing safety of the trial participants, rele

Computer-aided diagnosis, Computer-aided diagnosis : The computer programs ...

Computer-aided diagnosis : The computer programs which are designed to support clinical decision making. In common, such systems are based on the repeated application of the Bay

Case-cohort study, Case-cohort study : The research design in epidemiology ...

Case-cohort study : The research design in epidemiology which involves the sampling of controls at the outset of the study that is to be compared with the cases from the cohort. Th

Band matrix, Band matrix: A matrix which has its non zero elements arrange...

Band matrix: A matrix which has its non zero elements arranged uniformly near to the diagonal, so that aij = 0 if (i - j)> ml or (j - i)> mu where aij are the elements of matrix a

Quatitative methods, An oil company is considering whether or not to bid fo...

An oil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The company

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd