Calculate the gini coefficient and coefficient of variation

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Reference no: EM131387350

Calculate the gini coefficient and the coefficient of variation for each of the following distributions. [Hint: It will save significant time if you make use of theinequality principles (population, relative income, etc.) to simplify where possible.]

a. Two people earn 3, one earns 6, and three earn 15.

b. 2 million people earn 3, 1 million earn 6, and 3 million earn 15.

c. 2 million people earn 3,000, 1 million earn 6,000, and 3 million earn 15,000.

d. 250 million people earn 600, 1 billion people earn 300.e.The richest 20% earn 20% of the income. [Hint: it may help to draw the Lorenz curve.

Reference no: EM131387350

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