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

question 174

Multiple Choice

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 stockbrokers was described by the function ​ ​
And that of high school teachers by the function
​ ​
Compute the coefficient of inequality for each Lorentz curve. Round your answers to the nearest hundredth.
​
Which profession has a more equitable income distribution?
​

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Definitions:

Efficiency

The ability to achieve a desired result with minimal waste of time, effort, or resources.

Quality Improvement

An ongoing process of detection and reduction of errors, improvement of operations, and ensuring that standards of quality are met consistently.

TQM

Total Quality Management; a comprehensive approach to organizational management that seeks to improve the quality of products and services through ongoing refinements in response to continuous feedback.

Six Sigma

A set of techniques and tools for process improvement that aims to improve the quality of the output of a process by identifying and removing the causes of defects and minimizing variability in manufacturing and business processes.