Today's lecture notes are here. An excellent interactive demonstration is here.
Use the data below to prepare a Lorenz Curve and find the Gini Coefficient.
The small country of Alpha has 10 citizens. The citizens and their earned incomes are listed below:
Citizen Earned Income
Zak $ 2,000
Erika $10,000
Bill $ 1,500
Juan $ 15,000
Harry $ 16, 000
Jose $ 9,000
Emily $ 30,000
Kai $ 12,000
Robert $ 8,000
Kathleen $ 20,000
From the data, have the students graph the Lorenz Curve and calculate the Gini Coefficient.
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