Question: Question Parts: Part A. The US Census reports that the bottom 60% of the population earn 27% of the income. What is the Gini coefficient

Question Parts:

Part A. The US Census reports that the bottom 60% of the population earn 27% of the income. What is the Gini coefficient for this limited data?

Part B. You look further, and also find that the bottom 20% of the population earn 3% of the income, and the to p20% earn 51% of the income. What is the new Gini coefficient with these extra data?

[The answer is SHOWN in the picture below, PLEASE SHOW THE STEPS & HOW TO SOLVE FOR THE ANSWER.]

*** Please explain and show all work. Thank you very much and will rate! :)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Question Parts: Part A. How much was the zloty overvalued (+) or undervalued (-) in 2018 as a percent of the PPP rate? Part B. The US Census reports that the bottom 60% of the population earn 27% of...

Question Parts: Part A. The US Census reports that the bottom 60% of the population earn 27% of the income. What is the Gini coefficient for this limited data? Part B. You look further, and also find...

1. Izzo's Pizza sells four types of pizza crust. Last week, the owner tracked the number sold of each type, and this is what she found. Type of Crust Number Sold Thin crust 280 Thick crust 214...

Create an annotated bibliography from the three core readings (provided); ? Each annotation (summary & comment) should be approximately 300 words (per reading); ? Each annotation should include a...

answer need from reading thanks Q-whatare some of the dimensions of economic inequality and what is consideredincome? Albert Duncan 0 and 1.0. Zero indicates perfect equality (all recipients receive...

chapter 6 \" International Management It was once said that the sun never set on the British Empire. Today, the sun does set on the British Empire, but not on the scores of global empires, including...

3 COLLEGE ALGEBRA - TRIGONOMETRY Business and Finance (MAT115) This course will start with a review of basic algebra (factoring, solving linear equations, and equalities, etc.) and proceed to a study...

SA-TIED YOUNG SCHOLARS PROGRAMME Young Scholars This paper was produced as a part of the SA-TIED Young Scholars' programme. The programme is a part of SATIED's capacity building initiatives, designed...

Atl Econ J (2013) 41:89-91 DOI 10.1007/s11293-012-9342-2 ANTHOLOGY Social Capital and Income Inequality in the United States Rati Ram Published online: 17 October 2012 # International Atlantic...

answer should be base on reading Questions E xplain three methods of measuring income inequality of a nation. aggregate household income received by the quintiles and the Liam index. The Gini index...

What could be some advantages and disadvantages of the following sources of information: (a) Charts, (b) Written reports, and (c) Firsthand observation?

The balance sheet of Alex Bros. follows: Of the 200,000 common shares authorized, 50,000 shares were issued for $8 each when the company began operation. There have been no common stock issuances...

6. Factorise each of the following expressions completely. (a) 4f ^ 2 - 10f + 6 (b) 1 - 12hk + 36h ^ 2 * k ^ 7 (c) 5m ^ 2 * n - 15m * n ^ 2 - 25mn (d) 2px + 3qy - 2py - 3qx

A retailer initiates an advertising campaign, which allows a customer to receive a coupon for a free gaming system DVD with the purchase of three gaming system DVDS in a single purchase for $75 (3 x...

Mainfreight New Zealand is a publicly listed company that offers freight transport and warehousing services locally and abroad through international alliances. Suppose the company owns a piece of...

A dartboard has 10 equally sized slices numbered from 1 to 10. Some are grey and some are white. The slices numbered 3 and 10 are grey. The slices numbered 1, 2, 4, 5, 6, 7, 8, and 9 are white. 10 1...

Which element is required in a web application to operate the Server-Sent Events? a. b. c. d. .

CHOOSE ANY ORGANISATION THAT IS ON THE VERGE OF FAILURE AND STATE THE BASIC FUNCTIONS OF MANAGEMENT AND HOW YOU CAN CAN APPLY THEM TO HELP AND SAVE THE DYING ORGANISATION. WRITE 2-3 PAGES

Engage everyone in the dialogue

1. Given your basic mental state, i.e. the state you often return to. Give this state a name that you recognize and that is easy to remember, such as irritability, frustration, joy, etc. Also give...

5. The next time a negative event occurs, or a negative memory occurs, think about how you need to perform to make this a success story.