Math  /  Data & Statistics

QuestionSoncept Questions
The diagram to the right is a Lorenz curve. Using the 3-point curved line drawing tool, sketch a Lorenz curve that illustrates a more (but not perfectly) equal distribution of income than the Lorenz curve depicted to the right. Label this curve ' LC2\mathrm{LC}_{2} '. Note: Carefully follow the instructions above and only draw the required object.

Studdy Solution
Sketch the new Lorenz curve, labeled "LC₂", which should be closer to the line of equality than "LC₁". Use the 3-point curved line drawing tool to create a curve that starts at (0,0), is above "LC₁", and ends at (100,100).
The new Lorenz curve "LC₂" should visually represent a more equal distribution of income compared to "LC₁".

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