Line of perfect. equality Wealth
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Lp(x) = x^p for p less than or equal to 1
![Line of perfect
equality
0.8 of households
control 0.6 of
0.6
the wealth.
Lorenz curve
0.5 of households
control 0.2 of
0.2
B
the wealth.
0.
0.5
0.8
Fraction of Households
Figure 1
Fraction of Total Wealth](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ee67c44-0754-41fd-9006-bdc882dbaccb%2F992e185a-8f19-4475-bca9-e7bbd844cf44%2Fffrbux_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Line of perfect
equality
0.8 of households
control 0.6 of
0.6
the wealth.
Lorenz curve
0.5 of households
control 0.2 of
0.2
B
the wealth.
0.
0.5
0.8
Fraction of Households
Figure 1
Fraction of Total Wealth
![7. The information in the Lorenz curve is often summarized in a single measure called the Gini
index (proposed in a 1912 paper by the Italian statistician Corrado Gini). The Gini index is
defined as follows. Let A be the area of the region between y = x and y = L(x) and let B be
the area of the region between y = L(x) and the x-axis (see Figure 1). Then the Gini index
A
is G =
A+B
Compute the Gini index for L, when p = 1.1 and when p = 4.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ee67c44-0754-41fd-9006-bdc882dbaccb%2F992e185a-8f19-4475-bca9-e7bbd844cf44%2Fo6v0tq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:7. The information in the Lorenz curve is often summarized in a single measure called the Gini
index (proposed in a 1912 paper by the Italian statistician Corrado Gini). The Gini index is
defined as follows. Let A be the area of the region between y = x and y = L(x) and let B be
the area of the region between y = L(x) and the x-axis (see Figure 1). Then the Gini index
A
is G =
A+B
Compute the Gini index for L, when p = 1.1 and when p = 4.
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