What Do the Lorenz Curves for Wealth and Income in the United

question 162

Essay

What do the Lorenz curves for wealth and income in the United States look like? Which is closer to the line of equality?

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Definitions:

Discrete Quantitative Variables

Variables that represent countable quantities and can take on a finite number of distinct values.

Elementary Units

The simplest, indivisible entities which a data set or a statistical analysis is concerned with.

Finite Result

An outcome or solution that is fixed and definitive, with limitations in terms of size, number, or extent.

Discrete Variable

A variable that can take on a countable number of distinct values and cannot take on every value within its range.