Reflect on the data, explain and interpret the Gini coefficient

Problem 5

Hint

Accounts & Financehousehold incomes vary from one household to another. the Gini coefficient measures the spread of household incomes across all households. the Gini coefficient varies between the values of 0 and 1. the Gini coefficient is 0 when the Lorenz curve coincides with a perfect equality line which reflects perfect equality. as the Lorenz curve moves further away from the perfect equa...

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