Question: Use the data below to compute for the Gini coefficient. Round off the Gini coefficient to four (4) decimal places. INCOME CLASS (K) FIRST

Use the data below to compute for the Gini coefficient. Round off the Gini coefficient to four (4) decimal places. INCOME CLASS (K) FIRST SECOND THIRD FOURTH FIFTH INCOME SHARE (YK) 0.02 0.12 0.28 0.28 0.30 POPULATION SHARE (X) 0.50 0.20 0.10 0.15 0.05 CUMULATIV E INCOME SHARE CUMULATIV E POPULATION SHARE 1. Fill up the last two columns of the table. (5 points) 2. Draw the Lorenz curve diagram. (5 points) 3. Find the Gini coefficient based on data given in the table. Show your solution. (10 points) 4. How would you describe the distribution of income? ( 5 points) 5. Is it possible for a country to be classified as low income but its distribution of income is not highly inequitable? Why or why not? (5 points)

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To compute the cumulative income share and cumulative population share we can fill up the last two columns of the table as follows CLASS INCOME SHARE ... View full answer

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