Calculating the Gini Coefficient

[jeroenjww]

I have figured out a formula in order to calculate the area under the graph for these lines. I will explain it for the blue line, but this will work for the orange line as well. Step 1: Take the sum of the column '% of population'. Step 2: Multiply this number with 10. Step 3: Subtract 500 of this value. And now you have the same answer as in the example. With this method, you kind of integrate the area under the curve!

[mansinigam]

A Million Thanks to u Brother ...💯
I was literally wandering for the Concept Clarity 😭...
[ Respect from India 🇮🇳 🙏]

[joaquinarribas]

Sorry but, I have a question on how this method applies to my data. I am compiling information on income distribution of 30 countries and they don't offer me the possibility to form triangles in any spot. For example, here is the data for Burundi: (0;0), (10;0.3), (20;1.9), (30;5.2), (40; 9.2); (50; 4.7), (60; 20.2), (70; 27.7), (80; 37.3), (90; 53), (100;100). I don't have any point where there are straight lines so I can form traingles. How could I calculate the area of the lorenz curve in this situation? Thank you very much.

[hdllz]

OMG 😭😭😭😭😭😭😭😭 thank you thank you thank you !!! this id sooo helpful !! God bless you

[wrjazziel]

Thank youuuu so much!, ... I needed this

[chutiyamimuhammad]

Very easy and concise explanation. I really like it.

[mannemendel]

Thanks for the explanation. I'm curious... Isn't A+B always 5000? Why then do we have do divide A with this static number, instead of just using A as our figure for comparison? (My guess is that while not necessary for comparisons it's more convenient and pedagogical to have a number between 0 and 1 instead of one between 0 and 5000 ?)

[voorhees]

It seems silly to calculate the area of all the shapes under the Lorentz curve. Wouldn't it make more sense to do do power regression or exponential regression of the observed data and then integrate the function to find the area under the curve?

[tshepisoletsoalo]

thank you so much for the video, it helped a lot

[abinashekka]

great explanation cleared .... thank u very much

[coolramama]

Excellent Video.. Thank you.. and expecting some more videos

[Sugam-Academy]

Excellent presentation...Thank u sir for clearing my doubts .

[Potencyfunction]

Sir we are not finace economs to make gini coefficients and the correlation between working places and amount of unemployment. We are just idiots in Parlament .

[shynnaganeo]

can i ask? y u start to 40 and not to 60?

[rachittyagiyoutube]

Sir any other way to find gini coefficient?

[rohannaik]

why didn't he just do it using trapeziums