A model developed by economist Max Lorenz in 1905. It represents a probability distribution of statistical values, and is often associated with income distribution calculations. For example, a Lorenz curve can show that the bottom 40% of households bring in 25% of a country's income. If income distribution were perfectly equal, 40% of households would bring in 40% of income.
Related information about Lorenz curve:
- Lorenz curve - Wikipedia, the free encyclopedia
In economics, the Lorenz curve is a graphical representation of the cumulative distribution function of the empirical probability distribution of wealth; it is a graph ...
- Lorenz Curve -- from Wolfram MathWorld
The Lorenz curve is used in economics and ecology to describe inequality in wealth or size. The Lorenz curve is a function of the cumulative proportion of ...
- Lorenz Curve Definition | Investopedia
A graphical representation of wealth distribution developed by American economist Max Lorenz in 1905. On the graph, a straight diagonal line represents ...
- Graphing a Lorenz Curve and Calculating the Gini Coefficient ...
Apr 5, 2010 ... This free lesson by EconEdLink covers Economic Equity, Distribution of Income, Economics, Role of Resources in Determining Income, ...
- Lorenz curve
Lorenz curve: A Lorenz curve shows the degree of inequality that exists in the distributions of two variables, and is often used to illustrate the extent that income ...
- Lorenz Curve - Ingrimayne
The information in the table can be made into a Lorenz curve such as that ... The further the Lorenz curve lies below the line of equality, the more unequal is the ...
- Lorenz Curves and the Gini Coefficient - YouTube
May 27, 2008 ... I am supposed to draw the lorenz curve and your video helped me more than my 4 hours lecture every tuesday! thanks a lot, keep up the good ...
- Lorenz curve: Definition from Answers.com
Lorenz curve ( lrens krv ) ( statistics ) A graph for showing the concentration of ownership of economic quantities such.