Answer: 0.2
Explanation:
The Gini coefficient also referred to as the Gini index is a statistical measure of distribution that depicts economic inequality through the measure of income distribution or wealth distribution among the population. Gini coefficient ranges from 0 to 1, with 0 meaning perfect equality and 1 meaning perfect inequality. Gini coefficient values over 1 are also possible as a result of negative income or wealth.
Since the formula for the GINI coefficient in the Lorenz curve has been given as: (Yellow Area) / (Yellow Area + Green Area) and yellow area is 0.1 and green area is 0.4.
Gini coefficient= 0.1 /(0.1+0.4)
= 0.1/0.5
= 0.2
Based on the formula for the GINI coefficient and the figures given, the GINI coefficient will be 0.2.
As stated about, this can be found as:
= (Yellow Area) / (Yellow Area + Green Area)
Solving therefore gives:
= (0.1 ) / (0.1 + 0.4)
= 0.2
In conclusion, the GINI Coefficient will be 0.2.
Find out more on the GINI Coefficient at https://brainly.com/question/24554155.
