Quintile of Population Quintile's % of Income, Colombia, 2010 Quintile's % of Income, Finland, 2010 Quintile's % of Income, United States, 2010 United States data from the Congressional Budget Office at CBO.gov. Before-tax Income, rounded to whole %s. 1st 2nd 3rd 4th 5th 7 11 19 60 9. 14 17 23 37 10 14 20 Data for other countries from WorldBank.org, rounded to whole %s. Report your answers to two decimal places. According to these data, the Gini coefficient for Colombia in 2010 is 0.514 O The Gini coefficient for Finland in 2010 is 0.260 These Gini coefficients indicate that in 2010, the income distribution was more unequal in Colombia compared to Finland. In 2010, the income distribution was more equal in the United States compared to Finland. 51

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 76E
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Instructions: Use the interactive tool to plot Lorenz curves for the information in the table.
Quintile of
1st
Population
2nd
3rd
4th
5th
Quintile's %
of Income,
Colombia,
2010
Quintile's %
of Income,
Finland,
2010
Quintile's %
of Income,
United
States,
2010
3
7
11
19
60
14
17
23
37
10
14
20
United States data from the Congressional Budget Office at CBO.gov. Before-tax Income, rounded to whole %s.
Data for other countries from WorldBank.org, rounded to whole %s.
Report your answers to two decimal places.
According to these data, the Gini coefficient for Colombia in 2010 is
0.514
The Gini coefficient for Finland in 2010 is 0.260
These Gini coefficients indicate that in 2010, the income distribution was more unequal
in Colombia compared to Finland.
In 2010, the income distribution was more equal
in the United States compared to Finland.
51
Transcribed Image Text:Instructions: Use the interactive tool to plot Lorenz curves for the information in the table. Quintile of 1st Population 2nd 3rd 4th 5th Quintile's % of Income, Colombia, 2010 Quintile's % of Income, Finland, 2010 Quintile's % of Income, United States, 2010 3 7 11 19 60 14 17 23 37 10 14 20 United States data from the Congressional Budget Office at CBO.gov. Before-tax Income, rounded to whole %s. Data for other countries from WorldBank.org, rounded to whole %s. Report your answers to two decimal places. According to these data, the Gini coefficient for Colombia in 2010 is 0.514 The Gini coefficient for Finland in 2010 is 0.260 These Gini coefficients indicate that in 2010, the income distribution was more unequal in Colombia compared to Finland. In 2010, the income distribution was more equal in the United States compared to Finland. 51
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