Please provide answer in 1 hr please urgent Based on a study, the Lorenz curves for the distribution of incomes for bankers and actuaries are given respectively by the functionsf(z) z+10 10andg(z)=0.542³5 +0.46(a) What percent of the total income do the richest 20% of bankers receive? Note: Round off to two decimal places if necessary.(b) Compute for the Gini index of f(z) and g(x). What can be implied from the Gini indices of f(x) and g(x)?

Introduction Lorenz function of bankers has given. Lorenz curve of functions f(x): f(x) = 110x + 910…

Based on a study, the Lorenz curves for the distribution of incomes for bankers and actuaries are given respectively by the functions f(z)= z+ 10 and 9(z)=0.542³5 +0.46 (a) What percent of the total income do the richest 20% of bankers receive? Note: Round off to two decimal places if necessary (b) Compute for the Gini index of f(z) and g(z). What can be implied from the Gini indices of f(z) and g(z)?

Based on a study, the Lorenz curves for the distribution of incomes for bankers and actuaries are given respectively by the functions f(z)= z+ 10 and 9(z)=0.542³5 +0.46 (a) What percent of the total income do the richest 20% of bankers receive? Note: Round off to two decimal places if necessary (b) Compute for the Gini index of f(z) and g(z). What can be implied from the Gini indices of f(z) and g(z)?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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