Refer to Problem 43. After making a series of adjustments for things like taxes, fringe benefits, and returns on home equity, the income distribution for the United States in 1999 is represented by the Lorenz curve y = g(x), where g(x) is given in the table.

(A) Find the interpolating polynomial for this table.

(B) Use the interpolating polynomial to approximate (to four decimal places) the index of income concentration.

Data from Problem 43

The income distribution for the United States in 1999 is represented by the Lorenz curve y = f(x), where f(x) is given in the table.

Transcribed Image Text:

0 g(x) 0 X 0.2 0.06 0.8 0.54 1 1