2 Data Exercise: Measuring Inequality The file ps5_wage_data. cav contains wage data for 500 workers. You can find it in the folder Problem sets. Download the data and load it into a software of your choice (R, Excel, Matlab,...). We will use these data to compute several measures of inequality. The first column of the data contains worker id (just a number between 1 and 500), the second columns contains the wage. Sort the data from the lowest to the highest wage and construct percentiles - that is, 100 bins of equal size. There are 500 workers in the sample so each bin will contain 5 workers. Question 2.1 Construct and plot the Lorenz curve using the percentiles. In class we saw an example where we split workers into 5 bins of equal size, here we split them into 100 bins of equal size. Question 2.2 Compute the Gini coefficient. Question 2.3 Compute the 90-10, 50-10 and 90-50 wage gaps