In an effort to make the distribution of income more nearly equal, the government of a country passes a tax law that changes the Lorenz curve from y = 0.98x2.1 for one year to y = 0.32x2 + 0.68x for the next year. Find the Gini coefficient of income for both years. (Round your answers to three decimal places.)

College Algebra
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ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 3TI: Table 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to...
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In an effort to make the distribution of income more nearly equal, the government of a country passes a tax law that changes the Lorenz curve from y = 0.98x2.1 for one year to y = 0.32x2 + 0.68x for the next year. Find the Gini coefficient of income for both years. (Round your answers to three decimal places.)

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