Table 1 Cumulative Population (%) Cumulative Income (%) Data Points (x,y) V X 20% 4.1% (0.2,0.041) (0.4,0.149) (0.6,0.323) (0.8,0.568) (1,1) 14.9% ( 4.1 %+10.8%) 32.3% (14.9% + 17.4 % ) 56.3% (32.3% + 24.5 % ) 100% (56.3% + 43.3% ) 40% ( 20 % 20% ) 60% (40% + 20%) 80% (60% 20 %) 100% (80% + 20%) +

Question

For the year data given in the chart find a power function that is used to model the Lorenz function. Using regression and the
data points above (in the last column in the table).

Table 1
Cumulative Population (%)
Cumulative Income (%)
Data Points (x,y)
V
X
20%
4.1%
(0.2,0.041)
(0.4,0.149)
(0.6,0.323)
(0.8,0.568)
(1,1)
14.9% ( 4.1 %+10.8%)
32.3% (14.9% + 17.4 % )
56.3% (32.3% + 24.5 % )
100% (56.3% + 43.3% )
40%
( 20 %
20% )
60% (40% + 20%)
80% (60% 20 %)
100% (80% + 20%)
+
Expand
Transcribed Image Text

Table 1 Cumulative Population (%) Cumulative Income (%) Data Points (x,y) V X 20% 4.1% (0.2,0.041) (0.4,0.149) (0.6,0.323) (0.8,0.568) (1,1) 14.9% ( 4.1 %+10.8%) 32.3% (14.9% + 17.4 % ) 56.3% (32.3% + 24.5 % ) 100% (56.3% + 43.3% ) 40% ( 20 % 20% ) 60% (40% + 20%) 80% (60% 20 %) 100% (80% + 20%) +

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