Question

community: jane- 4 million bernard- 2 million kate- 9 million john- 9 million kamala-6 million use...

community:
jane- 4 million
bernard- 2 million
kate- 9 million
john- 9 million
kamala-6 million

use the info above to create a lorenz curve and calc the gini coefficient
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Answer #1
Community income in millions % income % population income/population cumm %pop cumm %inc
0 0
Bernard 2 0.066666667 0.20 0.333333333 0.20 0.0666667
Jane 4 0.133333333 0.20 0.666666667 0.40 0.2
Kamala 6 0.2 0.20 1 0.60 0.4
Kate 9 0.3 0.20 1.5 0.80 0.7
John 9 0.3 0.20 1.5 1.00 1
30

Gini Coefficient= area under the curve of equity and above the lorenz curve

cumm %pop cumm %inc area under the lorenz Area A= 0.126667
0 0 Gini= 0.253333
0.20 0.0666667 0.006666667
0.40 0.2 0.026666667
0.60 0.4 0.06
0.80 0.7 0.11
1.00 1 0.17
0.373333333
0 0
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