Gini coefficient is a statistic used to measure income inequality within nations. It ranges from 0 to 100, with higher scores indicating more inequality. At the extremes, a Gini score of 0 would mean that everyone in the country earns the exact same income, and a Gini score of 100 would mean that only one person in the country earns all the income. Some people argue that the larger a nation is, the more difficult it is to maintain a fair distribution of incomes. In other words, does income inequality increase as population size increases? You can test this question by conducting a bivariate regression on the data in the table below. ***Must show work on PDF for completing this computational table and for the following 9 questions*** Country (1) X: Population (in millions) (2) Y: Gini Score (3) (4) (5) (6) (7) Sweden 8 27 Ethiopia 77 29 Switzerland 11 43 Laos 6 45 UK 59 35 Russia 144 44 US 291 40 Mexico 111 46 Brazil 190 55 What is the covariation of X and Y? Hint: That is what one of the numbers of the total columns is called. Throughout calculating, and for the final answer, round to two decimals
Continuous Probability Distributions
Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.
Normal Distribution
Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!
Gini coefficient is a statistic used to measure income inequality within nations. It
Some people argue that the larger a nation is, the more difficult it is to maintain a fair distribution of incomes. In other words, does income inequality increase as population size increases? You can test this question by conducting a bivariate regression on the data in the table below.
***Must show work on
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Country |
(1) X: Population (in millions) |
(2) Y: Gini Score |
(3) |
(4) |
(5) |
(6) |
(7) |
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Sweden |
8 |
27 |
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Ethiopia |
77 |
29 |
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Switzerland |
11 |
43 |
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Laos |
6 |
45 |
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UK |
59 |
35 |
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Russia |
144 |
44 |
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US |
291 |
40 |
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Mexico |
111 |
46 |
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Brazil |
190 |
55 |
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What is the
Throughout calculating, and for the final answer, round to two decimals
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