1. Suppose there are two countries with 10 people each. Country A has an earnings distribution given...
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Question:
1. Suppose there are two countries with 10 people each. Country A has an earnings distribution given by that in column 2 and Country B has an earnings distribution given by that in column 3. Which country has greater income inequality?
For each country, calculate the following:
variance
coefficient of variation
the 80-20 ratio
the 90-10 ratio
Analyze your results. Which country has greater earnings inequality?
| Citizens | Country A's Earnings | Country B's Earnings | |
| 1 | 1 | 1 | |
| 2 | 1 | 1 | |
| 3 | 1 | 1 | |
| 4 | 1 | 1 | |
| 5 | 1 | 1 | |
| 6 | 1 | 1 | |
| 7 | 1 | 1 | |
| 8 | 1 | 1 | |
| 9 | 1 | 10 | |
| 10 | 10 | 10 |
Expert Answer:
To determine which country has greater income inequality we need to calculate the variance coefficie... View the full answer
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