A Gini Coefficient Is a Number Between 0 and 1

question 56

True/False

A Gini coefficient is a number between 0 and 1.

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Definitions:

Deciles

Divisions of a dataset into ten equal parts, where each part represents 10% of the data’s distribution.

Quartiles

Values that divide a list of numbers into quarters, providing a summary measure of the spread of the values.

Observations

The act of collecting data points or specific measurements from experiments, studies, or real-life occurrences.

Data Set

A collection of related sets of information, often consisting of numbers, text, or symbols, typically organized for analysis.