Consider the following distribution of income in a 12-person economy, (1, 1, 1.5, 1.5, 2, 2, 2, 2, 3, 3, 3, 3). Calculate the Gini coefficient of the economy using quartiles (dividing the economy into 4 equal parts meaning each section is 25% of t economy or the x axis is in increments of 25% compared to 10% for declles or 20% for quintiles) (Round answer to 2 decimal places)

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Answer 3:
Capital filght (lass of capital in the country) affecting the clothing sector
Question 21
Consider the following distribution of income in a 12-person economy,
(1, 1, 1.5, 1.5, 2, 2, 2, 2, 3, 3. 3, 3).
Calculate the Gini coefficient of the economy using quartiles (dividing the economy into 4 equal parts meaning each section is 25% of t
economy or the x axis is in increments of 25% compared to 10% for decles or 20% for quintiles) (Round answer to 2 decimal places)
0.41
Question 22
Consider the following distribution of income in a 12-person economy,
(1, 1, 1.5, 1.5, 2, 2, 2, 2, 3, 3, 3, 3).
Calculate the average Poverty, Gap assuming that the poverty line is 1.8 (Round to 2 decimal places)
Transcribed Image Text:Answer 3: Capital filght (lass of capital in the country) affecting the clothing sector Question 21 Consider the following distribution of income in a 12-person economy, (1, 1, 1.5, 1.5, 2, 2, 2, 2, 3, 3. 3, 3). Calculate the Gini coefficient of the economy using quartiles (dividing the economy into 4 equal parts meaning each section is 25% of t economy or the x axis is in increments of 25% compared to 10% for decles or 20% for quintiles) (Round answer to 2 decimal places) 0.41 Question 22 Consider the following distribution of income in a 12-person economy, (1, 1, 1.5, 1.5, 2, 2, 2, 2, 3, 3, 3, 3). Calculate the average Poverty, Gap assuming that the poverty line is 1.8 (Round to 2 decimal places)
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