Percent of Total Income (%)69Percent of Total Income (%)P Completed 19 out of 20Submit AllQuestion 1 of 20 >The table provides data on peprcentage of total income earned by quintile in two communities, Malaya and Carribea.CommunityQ1Q2Q3Q4Q5Malaya22%38%Carribea3%Using the data, manipulate the line segment in the graph to plot the Lorenz curve for Malaya.%0%24%48%15%MalayaQ5Carribea00 09692Q2 Q3 Q4 Q59692888484720889728964095252Q3443224Q23228.2445-degree line4.45-degree line8.1220.Activate Windows12.Go to Settings to activate Windo20.Percent of Population (%)4.400908000.09Percent of Population (%)40.08LAPTOP LOGINUSERNAME: studentCHPASSWORD: Broward1F10F11F12NumLkScr LkPrtScPauseSysRqBreak8.6

Lorenz curve for Malaya:Computation: First we need to convert the percentage of quintiles to cumulative data. This is done by adding the second quntile percentage to the first, third quintile percentage to the cumulative percentage of first and second and so on. So, we get: 8, 22, 40, 62, and 100 for quintiles 1, 2, 3, 4, and 5 respectively. Then we plot the values against the quintiles mentioned on x-axis. And connect the points. Join the ends of the curve to 0 (origin) and 100 on 45-degree line. The resulting curve is Lorenz curve.

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The table provides data on peprcentage of total income earned by quintile in two communities, Malaya and Carribea. Community Q1 Q2 Q3 Q4 Q5 Malaya 8% 14% 18% 22% 38% Carribea 3% 10% 15% 24% 48% Using the data, manipulate the line segment in the graph to plot the Lorenz curve for Malaya. Malaya Carribea Q5 QI Q2 Q3 Q4 05 100 96 92 100 96 92

The table provides data on peprcentage of total income earned by quintile in two communities, Malaya and Carribea. Community Q1 Q2 Q3 Q4 Q5 Malaya 8% 14% 18% 22% 38% Carribea 3% 10% 15% 24% 48% Using the data, manipulate the line segment in the graph to plot the Lorenz curve for Malaya. Malaya Carribea Q5 QI Q2 Q3 Q4 05 100 96 92 100 96 92

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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