Quantify income or wealth inequality within a group on a 0–1 scale where 0 is perfect equality and 1 is maximum concentration.
| Population % | Income % | Cumulative Income |
|---|---|---|
Note: A Gini coefficient of 0 represents perfect equality, while 1 represents maximum inequality.
The Gini coefficient is a measure of statistical dispersion used to represent income inequality within a nation or group. It was developed by Italian statistician Corrado Gini in 1912.
The Gini coefficient is calculated as the ratio of the area between the line of equality and the Lorenz curve to the total area under the line of equality:
Where A is the area between the line of equality and the Lorenz curve, and B is the area under the Lorenz curve.
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