Economists use Lorenz curves to illustrate the distribution of income in a country. Letting x represent the percent of families in a country and y the percent of total income, the model y = x would represent a country in which each family had the same income. The Lorenz curve, y = f(x), represents the actual income distribution. The area between these two models, for 0 Sx S 100, indicates the "income inequality" of a country. In 2013, the Lorenz curve for a country could be modeled by y = (0.00068x? + 0.0140x + 1.723), OSXS 100 where x is measured from the poorest to the wealthiest families. (a) Find the income inequality (in dollars) for that country 2013. (Round your answer to two decimal places.) %24 (b) Use the Lorenz curve to complete the table, which lists the percent of total income earned by each quintile in the country in 2013. (Round your answers three decimal places.) Quintile Lowest 2nd 3rd Highest Percent

In linear analysis, what is meant by the "best fitting" or "least squares" line? Choices: A: of all possible lines, the line with the steepest slope B. The line that minimizes the differences between the actual values of y and the predicted values of y  C. of all possible lines, the line with the flattest slope  D. the line that minimizes the differences between actual values of y and the mean value of y

The following table shows the average yearly tuition and required fees, in dollars, charged by four-year American private universities in the school year beginning in the given year. Date Average tuition 2012 $27,870 2013 $29,004 2014 $30,138 2015 $31,272 2016 $32,406 (a) Show that these data can be modeled by a linear function. For each change of 1 year in time there is an increase of $   in tuition. Find its formula. (Let d be the date in terms of number of years since 2012 and T tuition in dollars.) T(d) =  27,870+1134d       (b) Plot the data points and add the graph of the linear formula you found in part (a).         (c) What prediction does this formula give for average tuition and fees at four-year American private universities for the academic year ending in 2018?$

Pa.n.n