For Each Scenario That Follows, Write Down What the Variable(s)

question 6

Essay

For each scenario that follows, write down what the variable(s) is/are and which graphical display(s) are appropriate.Here is an example:
Describe the ethnic breakdown of your statistics class.
The variable is race, and an appropriate graphical display would be a pie chart or bar chart.
-Describe the distribution of age in your statistics class.

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Definitions:

Household Income

The total income received by all members of a household, including earnings from work, investments, and other sources before taxes and other deductions.

Perfect Equality

A theoretical state where all individuals have exactly the same income or wealth, eliminating disparities.

Income Distribution

The way in which total income is spread amongst the population or different groups within a society.

Lorenz Curve

A diagrammatic representation that exhibits how wealth or income is distributed among people in a society, underscoring the existing inequalities.