How to Draw a Lorenz Curve?


The 'equality line' in a graph follows that of X=Y. Very little in life is so perfect. Hence, the Lorenz Curve. It comes in handy when evaluating the disparity of values, whether you're looking at household incomes or your stock on hand. Here's an in-depth explanation of Lorenz Curves, and examples drawn using a spreadsheet program:
Q&A Related to "How to Draw a Lorenz Curve"
1. Collect data on a sample from your population. For example, suppose you find the income for five people, and those incomes are $25,000, $15,000, $50,000, $45,000 and $82,000 per
In a Lorenz Curve, a 45 degree line is drawn to reflect absolutely even distribution of income. The pink shaded area A between the line of perfect MORE?
The Lorenz curve was developed by Max O. Lorenz. The Lorenz curve is a visual representation in economics which displays the income distribution of a nation graphically. On the y-axis
1 Additional Answer
A lorenz curve is a way to graph income in a variety of different people, areas, and locations. This is a skill that must be taught and is quite precise and can be complicated.
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