# Solution Library

# Finding Mean Standard Deviation and Regression from Gini Coefficient Data

**Question**

This question requires you to analyze the dataset “world-ec.csv". The unit of observation is the nation-state. The variables are per capita Gross Domestic Product (purchasing power parity terms, 2010) and the last recorded Gini Coeffcient for the country. (The Gini Coeffcient is a measure of income inequality. It measures the degree of departure from a completely equal income distribution, on a scale of 0 to 100. Larger values correspond to more inequality.)

(a) Summarize the Gini Coeffcient variable: What are the mean, median, and standard deviation?

(b) Construct a histogram of the Gini Coeffcient. Locate the United States on the histogram (i.e., note the bin in which the U.S. falls).

(c) Compared to other countries in the world, does the U.S. have more or less income inequality than average, as measured by Gini? Use the standard deviation of Gini Coeffcients to determine whether the U.S. is relatively far away from the average or not.

(d) Summarize the per capita GDP variable: What are the mean, median, and standard deviation?

(e) Construct a histogram of per capita GDP. Locate the United States on the histogram (i.e., note the bin in which the U.S. falls).

(f) Compared to other countries in the world, does the U.S. higher or lower per capita GDP than average? Use the standard deviation of per capita GDP to determine whether the U.S. is relatively far away from the average or not.

(g) Some scholars have argued that income inequality is economically beneficial, in the sense that it generates incentives for vigorous economic activity. The idea is that in polities that ensure relatively equal incomes, individuals have less incentive to exert themselves economically than in polities where income inequality is more pronounced. Run a regression of per capita GDP on the Gini Coeffcient to assess the relationship between economic output and income inequality across countries. Report the regression line and R2 and interpret the results.

Note: Please find the Excel sheets attached along with this document.**Summary**

These questions belong to Statistics and it is about finding Gini Coefficient in countries. Variables such as per capita GDP and income inequality are measured. Mean, median, standard deviation and regression have been calculated in the solution.**Total Word Count 291**

## Comments

Rashathis is a very good website

maaniI have 50 questions for the same test your page is showing only 28

joeannehi can you please help or guide me to answer my assignments. thanks

joeannehi can anyone help or guide me to my assignments. thanks

MonikCristinaThis solution is perfect ...thanks

JaneteHello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes

SandeepPerfect bank of solution.

Oxanagreat !

Paul Brandon-Fritziusthanks for the quick response. the solution looks good. :)

tina Johnsonthnx for the answer. it was perfect. just the way i wanted it.

Giuseppeworks fine.