Suppose the income share of the population by quintile is the following: Income Share (percent) Quintile 1 4.5 Quintile 2 14.7 Quintile 3 19.8 Quintile 4 24.0 Quintile 5 37.0 What is the Gini coefficient? Round your answer to the nearest second decimal.
Suppose the income share of the population by quintile is the following: Income Share (percent) Quintile 1 4.5 Quintile 2 14.7 Quintile 3 19.8 Quintile 4 24.0 Quintile 5 37.0 What is the Gini coefficient? Round your answer to the nearest second decimal.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Suppose the income share of the population by quintile is the following:
Income Share (percent)
Quintile 1
4.5
Quintile 2
14.7
Quintile 3
19.8
Quintile 4
24.0
Quintile 5
37.0
What is the Gini coefficient? Round your answer to the nearest second decimal.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fca123475-efb6-4698-a589-cc37c66ca8c0%2Fd0e5ffe3-1363-492e-9bc0-90123001ab78%2Fb1k3pld_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose the income share of the population by quintile is the following:
Income Share (percent)
Quintile 1
4.5
Quintile 2
14.7
Quintile 3
19.8
Quintile 4
24.0
Quintile 5
37.0
What is the Gini coefficient? Round your answer to the nearest second decimal.
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