Calculate the Gini Coefficient. Use Excel. The small country of Alpha has 10 citizens. The citizens...

Calculate the Gini Coefficient. Use Excel.

The small country of Alpha has 10 citizens. The citizens and their earned incomes are listed below:

Citizen Earned Income

Zak $ 5,000

Erika $10,000

Bill $5,000

Juan $ 20,000

Harry $ 20, 000

Jose $ 50,000

Emily $ 50,000

Kai $ 5,000

Robert $ 5,000

Kathleen $ 5,000

From the data, graph the Lorenz Curve and calculate the Gini Coefficient.

Expert Solution

Rahul Sunny answered 2 years ago

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