The Gini index is a commonly used measure of a nation’s income inequality. If the income of n people is listed in increasing order (x₁ equals the smallest income and x_n equals the largest income), then the Gini index is defined by the equation shown here:

Set up a worksheet that determines the Gini index for a group of five people.

Transcribed Image Text:

G= n+1 η 2Σ (n+1-i)x; η Σία