Gini Index Calculus -

31.12.2013 · This video shows how to calculate the Gini Index that corresponds to a given Lorenz function, using either the fundamental theorem of calculus or the function integration fnInt command on a TI83. The Gini coefficient, a number between 0 and 1, measures the inequality in the distribution of a resource in our case household income: 𝐺= area between Lorenz curve and "line of perfect equality" = area under = for r≤ ≤ s r r 6. Compute the Gini coefficient for the societies in problem 4. 7. In economics, the Gini coefficient / ˈ dʒ iː n i / JEE-nee, sometimes called Gini index, or Gini ratio, is a measure of statistical dispersion intended to represent the income or wealth distribution of a nation's residents, and is the most commonly used measurement of inequality. I cannot do better than refer you to Wikipedia’s entry for GINI Coefficient: Gini coefficient - Wikipedia The big picture answer which is important is that calculus would only be used if you have fitted a standard distribution to the Lorenz curv.

I vaguely knew the term Gini coefficient, so I made a quick search. There is a great visualisation on [1]: The Lorentz curve in the question has equation: [math]Lx=0.7x0.3x^2[/math] with [math]0\le x \le 1[/math]. As a check we have [math]L0=. 24.04.2017 · High School Math Elementary Math Algebra Geometry Trigonometry Probability and Statistics Pre-Calculus. University Math Calculus Linear Algebra Abstract Algebra Real Analysis Topology Complex Analysis Advanced Statistics Applied Math Number Theory Differential Equations. Math Discussions Math Software Math Books Physics Chemistry Computer Science Business &. Blog. 18 November 2019. Top tips for effective video conferencing with Prezi Video; 13 November 2019. Introducing Prezi Video: For when you have something to say. • The Gini coefficient's main advantage is that it is a measure of inequality by means of a ratio analysis, rather than a variable unrepresentative of most of the population, such as per capita income or gross domestic product.

03.04.2015 · Busi Calc Applications of Area Between Curves - Gini Index. The highest possible Gini Coefficient is 1 and this implies 1 person gets all the income. In our story, we only have 10 people in our example population. If there were, say, 100 million people in the country, and one person had all the income, then the Gini Coefficient would be 0.999999, or very close to 1. Using Calculus to find the Gini. What happens to the Gini coefficient as I add many higher-income people? Compare the Lorenz curves for the populations [10, 20, 35, 35] and [15, 15, 30, 40]. Their Gini coefficients are the same, but I think that this is a weakness of the index–I think the latter is a more equitable income distribution.

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