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- The following table contains monthly housing expenditures for 10 families. (i) Find the average monthly housing expenditure. (ii) Find the median monthly housing expenditure. (iii) If monthly housing expenditures were measured in hundreds of dollars, rather than in dollars, what would be the average and median expenditures? (iv) Suppose that family number 8 increases its monthly housing expenditure to $900, but the expenditures of all other families remain the same. Compute the average and median housing expenditures.What is the approximate Gini coefficient associated with the following income distribution? Household Percentile 0.23 0.08 0.68 0.48 0.13 20th 40th 60th 80th 100th Share of Income 0.05 0.10 0.20 0.25 0.40 Cumulative Share of Income 0.05 0.15 0.35 0.60 1.00How was 1.40331 calculated?
- What is calculation of Herfindahl-Hirschman IndexEconomics jj Consider the partial data set in the table represents online hours spent shopping by age and income. Using the min-max transformation to normalize Income, what is the average standard deviation of Income for the chart provided? Use the min-max transformation to normalize the observations for Income spent online. Age ID 2,201 2,202 2,203 2,204 2,205 2,206 Income 57,000 57,000 54,000 17,000 37,000 45,000 Multiple Choice 1.000 0.6875 51 48 45 35 33 31 Online Hours S459N4 2Q.1 In the table below, you are given data on income distribution within the UK for the year 2012-2013. Population clumped together based income ($) Percentage share of total income ($) Percentage share of disposable income (after taxes and transfers) ($) Bottom most quintile Second quintile Middle quintile Fourth quintile 3 9. 8 14 15 17 25 22 Top most quintile 49 38 a) Using the information given in the table above and choosing the appropriate diagram, you are required to plot two Lorenz curves that will show the distribution of income before and after intervention by the government in the form of taxes and benefits. Label them as LC1 and LC2 respectively.
- Q.1 In the table below, you are given data on income distribution within the UK for the year 2012-2013. Population clumped together based income ($) Percentage share of total income ($) Percentage share of disposable income (after taxes and transfers) ($) Bottom most quintile Second quintile Middle quintile Fourth quintile 3 9. 8 14 15 17 25 22 Top most quintile 49 38 a) Using the information given in the table above and choosing the appropriate diagram, you are required to plot two Lorenz curves that will show the distribution of income before and after intervention by the government in the form of taxes and benefits. Label them as LC1 and LC2 respectively. b) Now calculate the Gini coefficients for both cases and comment on the nature of intervention (or type of tax system) by the government.(c) Calculate the new Gini Coefficient for Algura when income changes as follows:Instructions: Use the interactive tool to plot Lorenz curves for the information in the table. Quintile 1st % of Income, United States, 5 2010 % of Income, Bangladesh, 2010 9 2nd 10 13 3rd 14 16 United States data from Census.gov, before-tax income, rounded to 1/100ths. Data for Bangladesh from WorldBank.org, rounded to 1/100ths. 4th 20 21 5th 51 41 Report your answers to two decimal places. According to these data, the Gini coefficient for the United States in 2010 is The Gini coefficient for Bangladesh in 2010 is These data indicate that in 2010, income inequality is (Click to select) in the United States compared to Bangladesh.
- Use the table related to the size distribution of household income to answer the following questions. Share of Total Income Income Group Highest fifth Second fifth Third fifth 2019 Income Above $142,000 $86,001-$142,000 $54,001-$86,000 Average Income $ 254,400 51.9% 111,100 22.7 68,900 14.1 Fourth fifth Lowest fifth $28,001-$54,000 0-$28,000 40,700 8.3 15,300 3.1 ok According to the table: ences Instructions: In part a, enter your response as a whole number. In part b, round your response to one decimal place. a. What is the average household income in the United States? 98080 b. What percentage of the average household income of people in the highest fifth would have to be taxed away to bring them down to that average? %The data in the table characterizes the income distribution for a country. What percentage of the total population is categorized as belonging to the second quintile? Give your responses as whole numbers. Income category Share of income (%) Cumulative share of income (%) first quintile 7.0 --- second quintile 9.0 16.0 third quintile --- 35.0 fourth quintile 25.0 --- fifth quintile 40.0 --- percentage of population in second quintile: % What percentage of the total income for the country is earned by the third quintile? percentage earned by the third quintile: % What is the cumulative share of income earned by the poorest 80% of the population? percentage earned by the poorest 80%: %Income = $3 Px= $1, Py= $2
