In a Study Conducted by a Certain Country's Economic Development

question 147

Essay

In a study conducted by a certain country's Economic Development Board, it was found that the Lorentz curve for the distribution of income of college teachers was described by the function and that of lawyers by the function Compute the coefficient of inequality for each Lorentz curve.Round your answer to four decimal places.
The coefficient of inequality for college teachers is __________.
The coefficient of inequality for lawyers is __________.
Which profession has a more equitable income distribution?

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Definitions:

Sellers

Individuals or entities that offer goods or services for sale to consumers or other businesses.

Smart Cards

Portable memory cards with embedded integrated circuits that are capable of processing and storing data, and securely managing, transferring, and communicating information.

Magnetic Stripe

A strip of magnetic tape used to store data, commonly found on the back of cards such as credit and debit cards, allowing them to be read by swiping through a magnetic reading device.

Backward Compatibility

The ability of a system or technology to work with older legacy systems, or accept input designed for an older system.