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The income distribution of a country is estimated by the Lorenz curve f(x) = 0.37x³ +0.56x² +0.07x. Step 1 of 2: What percentage of the country's total income is earned by the lower 60% of its families? Write your answer as a percentage rounded to the nearest whole number.

The income distribution of a country is estimated by the Lorenz curve f(x) = 0.37x³ +0.56x² +0.07x. Step 1 of 2: What percentage of the country's total income is earned by the lower 60% of its families? Write your answer as a percentage rounded to the nearest whole number.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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The income distribution of a country is estimated by the Lorenz curve: \( f(x) = 0.37x^3 + 0.56x^2 + 0.07x \). **Step 1 of 2:** What percentage of the country's total income is earned by the lower \( 60\% \) of its families? Write your answer as a percentage rounded to the nearest whole number.
Transcribed Image Text:The income distribution of a country is estimated by the Lorenz curve: \( f(x) = 0.37x^3 + 0.56x^2 + 0.07x \). **Step 1 of 2:** What percentage of the country's total income is earned by the lower \( 60\% \) of its families? Write your answer as a percentage rounded to the nearest whole number.
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