3. Represent the following information in a Lorenz curve. Make sure that the diagram is correctly labeled.
Bottom Fifth |
Second Fifth |
Third Fifth |
Fourth Fifth |
Top Fifth |
3.8 |
9.3 |
15.1 |
23 |
48.9 |
Cumulative % of population (x-axis) | Cumulative % of income (y-axis) |
0 | 0 |
20 | 3.8 |
40 | 13.1 |
60 | 28.2 |
80 | 51.2 |
100 | 100 |
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