What Is a Lorenz Curve? Given the Income Information for the United

question 273

Essay

What is a Lorenz curve? Given the income information for the United States in 2000 that follows, graphically compare this Lorenz curve with one for an equal distribution.
$\begin{array}{|c|c|}\hline \text { Quintile } & \begin{array}{c}\text { Percent of Total } \\\text { Income }\end{array} \\\hline \text { Lowest } & 3.6 \\\hline \text { Second } & 8.9 \\\hline \text { Middle } & 14.9 \\\hline \text { Fourth } & 23 \\\hline \text { Highest } & 49.6 \\\hline \text { Total } & 100 \\\hline\end{array}$

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Definitions:

Percentile Score

A statistical measure indicating the percentage of scores in its frequency distribution that a specific score is equal to or lower than.

Deviation IQ

A method of calculating intelligence quotient where an individual's score is expressed as a deviation from the mean score of the age group.

IQ Tests

Uniform evaluations aimed at measuring the cognitive abilities and intelligence of humans.

Intellectual Disability

A term used to describe individuals who exhibit limitations in intellectual functioning and adaptive behavior, originating before the age of 18.