A simple model for the Lorentz curve for family income in a particular country has the form f(x) = x². The Gini index for family income in this country is thought to be 6/8. This means that the correct value of p is p = 7 Using this value of p, find the fraction of the income earned by the top 5% of the population. The top 5% earn a fraction of the income. (Hint: Enter your answer in symbolic form, to avoid trouble with round-off error. Let WebWork do the arithmetic for you.)

A simple model for the Lorentz curve for family income in a particular country has the form f(x) = x². The Gini index for family income in this country is thought to be 6/8. This means that the correct value of p is p = 7 Using this value of p, find the fraction of the income earned by the top 5% of the population. The top 5% earn a fraction of the income. (Hint: Enter your answer in symbolic form, to avoid trouble with round-off error. Let WebWork do the arithmetic for you.)

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

See similar textbooks

Related questions

Q: Plot 5 points of the function y 0.5 3 on the axes provided using the highlight tool, then connect…

Q: The following graph shows data regarding the population of a town in thousands. At what rate was the…

A: Since given line passes through points (1965, 140) and (1995, 80). Finding the slope of the given…

Q: Jamison is investigating how long his phone's battery lasts (in hours) for various brightness levels…

A: The dependent variable (y) Hours The independent variable is (x) Brightness Level…

Q: - a) The following points are to be related by an exponential curve, y = aebx Using your calculator,…

Q: Emissions of sulfur dioxide by industry set off chemical changes in the atmosphere that result in…

A: Given Mean=5.43 Standard deviations=0.54

Q: Find the best fit of the data sets below using log or semilog…

A: Question (a) Question (b)

Q: A group of 120 students sat a history exam. The cumulative frequency graph shows the scores obtained…

A: From the given cumulative frequency graph, we need to find required answers.

Q: Ocean currents are important in studies of climate change, as well as ecology studies of dispersal…

A: x y x2 y2 xy 76 14.2 5776 201.64 1079.2 79 19.6 6241 384.16…

Q: Earthquakes: The scatterplot below was produced to investigate whether, for the period of…

A: Given : The scatterplot was produced to investigate whether, for the period of observation, the data…

Q: The least square estimators are a. Period estimators b. Point estimators c. Population estimators…

Q: Life expectancy is the key metric for assessing population health. The following graph shows the…

A: Given, U(t) represents the life expectancy in the united states and A(t) represents the life…

Q: José makes a score of 70 on an exam (e.g., his "little x" = 70). Suppose that the percentile…

A: Given information Jose makes a score of 70 on an exam, his percentile is 70th So, it means 70% of…

Q: Determine the two values of z such that the middle 12% of the data lie between the two z-valuesRound…

A: Solution-: Determine the two values of z such that the middle 12% of the data lie between the two…

Q: Commuting distances for employees of a large steel fabricating facility are believed to follow an…

Q: WHAT IS 2 + 2 = ?

A: We have to find the value of 2+2. We know that if we add two same things then it get twice of that…

Q: A study was done in a large undergraduate classroom asking the students to record how many hours…

Q: (5.) As mobile phones continue to proliferate, more and more people will watch video content on…

Q: For the data set, perform exponential smoothing with alpha = 0.1 to determine the forecast for week…

A: Given data and forecast for the following week is shown here

Q: Let x be the percentage of 16- to 19-year-olds not in school and not high school graduates. Let y be…

A: Hi, We can only solve 3 subparts per session. Since you haven't mentioned which subparts you'd like…

Q: Which of the following is a valid pdf (accounting for rounding)? a.) f(x)= (x2+2)/10 x= 1,2 b.)…

A: Note: Thank you for the question. Since multiple subparts are posted, according to our policy, we…

Q: c. Describe the four characteristics of association

A: The following information has been given: Year (X) Percent (Y) 1985 9.7 1990 13.9 1995 17.9…

Q: Consider a tack like the one pictured below. When dropped on a table, the tack can land either point…

A: The problem is about the probability of a tack landing point down when dropped on a table. The…

Question

A simple model for the Lorentz curve for family income in a particular country has the
form
f(x) = x². The Gini index for family income in this country is thought to be 6/8. This
means that the correct value of p is p =
7
Using this value of p, find the fraction of the income earned by the top 5% of the
population. The top 5% earn a fraction
of the
income. (Hint: Enter your answer in symbolic form, to avoid trouble with round-off
error. Let WebWork do the arithmetic for you.)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 4 images

SEE SOLUTION Check out a sample Q&A here

Follow-up Questions

Read through expert solutions to related follow-up questions below.

Follow-up Question

incorrect answer for question 2

Solution

by Bartleby Expert

SEE SOLUTION

Similar questions

What happens visually when SSE goes to zero and SSE goes to SST in statistics
In baseball there are many ways to estimate what a team's winning percentage (w) should be against its opponents, given the total runs it has scored and the total runs it has allowed in a certain number of games. Bill James's Pythagorean Formula for the winning percentage estimator is given below. wpe = w = [(# runs scored)2]/[(# runs scored)2 + (# runs allowed)2] A team has currently scored 369 runs and allowed 329 runs. If the team does not allow any more runs for the rest of the season, how many additional runs must they score in order to have a wpe of 80%? (Hint: Let x = the number of runs additional scored.)
The Transylvania hypothesis claims that the full moon has an effect on health-related behavior. A study investigating this effect found a significant relationship between the phase of the moon and the (x-4) + 100 where y is the number of consultations as a percentage of the daily mean and x is the days since the last full 15.12 number of general practice consultations nationwide, given by y = 1.9 cos moon. a. What is the period of this function? What is the significance of this period? The period is days. (Round to two decimal places as needed.) Choose the correct meaning of the period p in the context of the problem. The x-distance between the maximum and the minimum of the graph is p. Every p days there is a full moon. There were p% more consultations when there was a full moon. The average number of daily consultations is p. b. If there was a full moon on April 7, on what day in April does this formula predict the maximum number of consultations? What percent increase would be…
6 plot
The length of a stalactite (in mm) has been measured at the beginning of every fourth year since the year 2000. The data through 2016 is shown below, where t is in years after the beginning of the year 2000. t Length (mm) 0 88 с Use the data to construct a scatter plot, then complete the following. 1) Which of the following best describes the pattern? O A. Linear (y = mx + b) O B. Logistic y= (y= OC. Exponential (y = a.b*) ₂-bx 4 93 1 + ae 8 99 2) Using your calculator and the best of the four methods above, find a model, L(t), that estimates the length of the stalactite t years after 2000. ROUND TO TWO DECIMAL PLACES. L(t) = 3) Use your rounded answer from part 2 to complete the following. ROUND TO TWO DECIMAL PLACES. Acording to the model, at the beginning of the year 2007, the stalactite was approximately mm long, and it was growing at a rate of approximately 12 103 mm per year. 16 108