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2. The table below presents data on annual labor income in a very simple, four-person economy, with income measured in Chinese yuan. Person # 1 2 3 4 Individual Labor Income (yuan) 18000 31000 67000 113000 a. Calculate both P75:P25 and S75:S25. b. Calculate Area A and Area B for Person 3 as if you were calculating the Gini Coefficient. c. Sketch out how the Lorenz Curve would change if Person I's income fell by 5000 yuan and Person 3's rose by 5000 yuan. Your sketch does not need to plot specifi values.

2. The table below presents data on annual labor income in a very simple, four-person economy, with income measured in Chinese yuan. Person # 1 2 3 4 Individual Labor Income (yuan) 18000 31000 67000 113000 a. Calculate both P75:P25 and S75:S25. b. Calculate Area A and Area B for Person 3 as if you were calculating the Gini Coefficient. c. Sketch out how the Lorenz Curve would change if Person I's income fell by 5000 yuan and Person 3's rose by 5000 yuan. Your sketch does not need to plot specifi values.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Questions B and C please!
2. The table below presents data on annual labor income in a very simple, four-person economy, with income measured in Chinese yuan. | Person # 1 2 3 4 Individual Labor Income (yuan) 18000 31000 67000 113000 a. Calculate both P75:P25 and S75:S25. b. Calculate Area A and Area B for Person 3 as if you were calculating the Gini Coefficient. c. Sketch out how the Lorenz Curve would change if Person 1's income fell by 5000 yuan and Person 3's rose by 5000 yuan. Your sketch does not need to plot specific values.
Transcribed Image Text:2. The table below presents data on annual labor income in a very simple, four-person economy, with income measured in Chinese yuan. | Person # 1 2 3 4 Individual Labor Income (yuan) 18000 31000 67000 113000 a. Calculate both P75:P25 and S75:S25. b. Calculate Area A and Area B for Person 3 as if you were calculating the Gini Coefficient. c. Sketch out how the Lorenz Curve would change if Person 1's income fell by 5000 yuan and Person 3's rose by 5000 yuan. Your sketch does not need to plot specific values.
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