Question
Lorenz Curve is given by:
dir="ltr">L(x) = 1/3 (X^3) + 2/3 (x^5). Calculate Gini Coefficient.Solution
The Gini coefficient is equal to the area below the line of perfect equality (0.5 by definition) minus the area below the Lorenz curve, divided by the area below the line of perfect equality. In other words, it is double the area between the Lorenz curve and the line of perfect equality.
- If 72% of (P - Q) is equal to 30% of 60% of (P + Q), then find the value of Q:P.
A company produces three types of products: X, Y, and Z. Initially, the production ratio of X to Y to Z is 5:7:8. The total production of these three pr...
In a chemistry lab two beakers A and B contains 36% and 40% of spirit respectively. If two liters from A is mixed with 4 liters of B. The ratio of spiri...
The total number of phones to the total number of laptops in Stores A and B is in the ratio 120:13. Additionally, the number of laptops in Store A to t...If 75% of (P - Q) equals 25% of 60% of (P + Q), what is the ratio of Q to P?
49 Kg of blended tea contain Assam and Darjeeling tea in the ratio 5 : 2. Then the quantity of Darjeeling tea is to be added to the mixture to make the ...
- If 80% of (X - Y) is equal to 40% of 60% of (X + Y), then what is the value of Y:X?
Akash distributed a certain amount of money among his three friends in the ratio of 2:3:4. If, instead, he had divided the amount...
The ratio of the number of apples and oranges in a fruit market is 5:4, respectively. If 40% of apples are red and 50% of oranges are sour, find the rat...
Gagan and Magan have their monthly incomes in the ratio of 9:7 while their monthly expenditures are in the ratio of 6:5, if they have saved Rs. 23,400 a...
