Suppose a Lorenz curve for a particular country is f(x)=x6 for 0≤x≤1. What is the Gini index of income concentration for this country? Give your answer to the nearest integer

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A:

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Q: The Gini coefficient for the nation with Lorenz curve of income distribution f(x) = 0.2x³+0.3x²+0.5x…

A: Let's find.

Q: Suppose a Lorenz curve for a particular country is f(x)=x4 for 0≤x≤1. What is the Gini index of…

A: To compute the Gini index of the given Lorenz curve

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A:

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A: To work out the Gini index from the given Lorenz curve by integration

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A:

Q: In order to study the effects of World War II on a certain country's economy, an economist used data…

A: According to question given :Lorenz curves for the distribution of income in 1935 and 1947.f(x)=x2.9…

Q: Suppose that the Lorenz Curve for country A is given by yA = x 2.2 and for country B is yB = 0.3x 2…

A: Step:- 1 Gini index / coefficient Formula is Gi=∫01x dx-∫01f(x) dx1/2Here, ∫01x dx = 12= Area of y=x…

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Q: Suppose that X has a lognormal distribution with parameters 0-5 and w2 = 9. Determine the following:

A: Given: X has a lognormal distribution. θ = 2 ω2 = 9

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A: The question of multiple linear regression. C=ß0+ß1Rt+ß2lt

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Q: In order to study the effects of World War Il on a certain country's economy, an economist used data…

A: Gini index is double the area between the Lorenz curve and the line of perfect equality     = 200 x…

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A: Relative maximum =? For a gamma distribution for alpha>1

Q: In order to study the effects of World War II on a certain country's economy, an economist used data…

A: The correct option is (A). Use the theoretical distribution approach to calculate the Gini index.…

Q: In order to study the effects of World War II on a certain country's economy, an economist used data…

A: Given fx=x2.3 Lorenz curve for 1935fx=x1.6 Lorenz curve for 1947

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A: Given risk-free rate Rr=6%expected returnRE=18%Betaβ=1.3

Q: Compute both marginals. Are X1 and X2 independent? Justify Compute E(X1) and V(X1).

A: Given that C = 2. For independence we must have  f(x1, x2) = f(x1).f(x2)

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Q: Laspeyres' index, (ii) Paasche's index, (iii) Fisher's Ideal index, dex,

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A: Given ,  E(x) = 500 standard deviation = 250 Var(x) =2502

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A:

Q: Mark the critical points on the following graph.

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Q: ) Suppose the diameter at breast height (in.) of trees of a certain type is normally distributed…

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A: Note: The test for which critical value need to obtained is not mentioned in the question. Hence,…

Q: In response to concerns about nutritional contents of fast foods, McDonald’s announced that it would…

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Q: Determine the equation of the normal line to the graph of the function in the picture at x=1.

A: Equation of normal

Continuous Probability Distributions

Probability distributions are of two types, which are continuous probability distributions and discrete probability distributions. A continuous probability distribution contains an infinite number of values. For example, if time is infinite: you could count from 0 to a trillion seconds, billion seconds, so on indefinitely. A discrete probability distribution consists of only a countable set of possible values.

Normal Distribution

Suppose we had to design a bathroom weighing scale, how would we decide what should be the range of the weighing machine? Would we take the highest recorded human weight in history and use that as the upper limit for our weighing scale? This may not be a great idea as the sensitivity of the scale would get reduced if the range is too large. At the same time, if we keep the upper limit too low, it may not be usable for a large percentage of the population!