MATH142 Essentials Of Engineering Mathematics

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MATH142 Essentials Of Engineering Mathematics

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MATH142 Essentials Of Engineering Mathematics

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Course Code: MATH142
University: University Of Wollongong

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: Australia

Questions:
1. Sketch the Lorenz curve for this function.
2. Compute L(0.10) and interpret your answer.3. Compute the Gini coefficient of inequality.4. For extra credit, find a “real” Lorenz Curve. Send the link and a brief paragraph describing your Lorenz Curve.
Answers:

x

0

0.2

0.4

0.6

0.8

1

y

0

0.648

0.576

0.024

1.152

9

Integrating,
Area

x

1

1.5

2

e=2.718

y

5

3.33

2.5

1.839

Integrating
Therefore, area under the curve

x

0

0.2

0.4

0.6

0.8

1

L

0

0.077

0.216

0.416

0.677

1

At x=0.1,
The bottom 10% of the population earn 3.1% of the total income.
Area under triangle,
Area under curve
Area between curve and hypotenuse
Real Lorenzo curve
The curve referred to above illustrate inequality in Great Britain for 4 wealth components. The data used was collected between the year 2012 and 2014. All the components were graphed and the curves compared to the 45 degree line. The closer the curve is to the 45 degrees diagonal, the lesser the inequality and vice versa. From the research, the highest inequality was recorded in net financial wealth. On the contrary, physical wealth showed more equality.
References
Rogawsky, J., & Adams, C. (2015). Calculus: Early Transcendentals (3rd ed.). W. H. Freeman.
Stewart, J. (2016). Calculus (8th ed.). Boston: Cengage Learning.
Stroud, K., & Dexter, B. (2013). Engineering Mathematics 7th Edition. Palgrave.

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