Reference no: EM13978537
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 the inequality 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.]
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