Based on a study, the Lorenz curves for the distribution of incomes for bankers and actuaries...

  

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Based on a study, the Lorenz curves for the distribution of incomes for bankers and actuaries are given respectively by the functions 9 f(2)=1/02 + 1/02² and g(z)=0.542³5 +0.46 (a) What percent of the total income do the richest 20% of bankers receive? Note: Round off to two decimal places if necessary (b) Compute for the Gini index of f(x) and g(z). What can be implied from the Gini indices of f(z) and g(x)? Based on a study, the Lorenz curves for the distribution of incomes for bankers and actuaries are given respectively by the functions 9 f(2)=1/02 + 1/02² and g(z)=0.542³5 +0.46 (a) What percent of the total income do the richest 20% of bankers receive? Note: Round off to two decimal places if necessary (b) Compute for the Gini index of f(x) and g(z). What can be implied from the Gini indices of f(z) and g(x)?

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a we can find the percent of the total income that the richest ... View the full answer