|
Lorenz Asymmetry Coefficient
The Lorenz asymmetry coefficient (LAC) is a summary statistic of the Lorenz curve that measures the degree of asymmetry of the curve. The Lorenz curve is used to describe the inequality in the distribution of a quantity (usually income or wealth in economics, or size or reproductive output in ecology). The most common summary statistic for the Lorenz curve is the Gini coefficient, which is an overall measure of inequality within the population. The Lorenz asymmetry coefficient can be a useful supplement to the Gini coefficient. The Lorenz asymmetry coefficient is defined as :S = F(\mu)+ L(\mu) where the functions ''F'' and ''L'' are defined as for the Lorenz curve, and ''μ'' is the mean. If ''S'' > 1, then the point where the Lorenz curve is parallel with the line of equality is above the axis of symmetry. Correspondingly, if ''S'' < 1, then the point where the Lorenz curve is parallel to the line of equality is below the axis of symmetry. If data arise from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Summary Statistic
In descriptive statistics, summary statistics are used to summarize a set of observations, in order to communicate the largest amount of information as simply as possible. Statisticians commonly try to describe the observations in * a measure of location, or central tendency, such as the arithmetic mean * a measure of statistical dispersion like the standard mean absolute deviation * a measure of the shape of the distribution like skewness or kurtosis * if more than one variable is measured, a measure of statistical dependence such as a correlation coefficient A common collection of order statistics used as summary statistics are the five-number summary, sometimes extended to a seven-number summary, and the associated box plot. Entries in an analysis of variance table can also be regarded as summary statistics. Examples Location Common measures of location, or central tendency, are the arithmetic mean, median, mode, and interquartile mean. Spread Common measures of stati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lorenz Curve
In economics, the Lorenz curve is a graphical representation of the distribution of income or of wealth. It was developed by Max O. Lorenz in 1905 for representing Economic inequality, inequality of the wealth distribution. The curve is a graph of a function, graph showing the proportion of overall income or wealth assumed by the bottom of the people, although this is not rigorously true for a finite population (see below). It is often used to represent income distribution, where it shows for the bottom of households, what percentage of the total income they have. The percentage of households is plotted on the -axis, the percentage of income on the -axis. It can also be used to show distribution of Asset (economics), assets. In such use, many economists consider it to be a measure of social inequality. The concept is useful in describing inequality among the size of individuals in ecology and in studies of biodiversity, where the cumulative proportion of species is plotted a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Log-normal Distribution
In probability theory, a log-normal (or lognormal) distribution is a continuous probability distribution of a random variable whose logarithm is normal distribution, normally distributed. Thus, if the random variable is log-normally distributed, then has a normal distribution. Equivalently, if has a normal distribution, then the exponential function of , , has a log-normal distribution. A random variable which is log-normally distributed takes only positive real values. It is a convenient and useful model for measurements in exact and engineering sciences, as well as medicine, economics and other topics (e.g., energies, concentrations, lengths, prices of financial instruments, and other metrics). The distribution is occasionally referred to as the Galton distribution or Galton's distribution, after Francis Galton. The log-normal distribution has also been associated with other names, such as Donald MacAlister#log-normal, McAlister, Gibrat's law, Gibrat and Cobb–Douglas. A l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
LAC Interval When Some Data Is Equal To μ
Lac may refer to: Places Africa * Lac Region, a district in Chad * Lac Prefecture, a district in Chad America * Rivière du Lac, a tributary of the Montmorency River, in Capitale-Nationale, Quebec, Canada Europe * Laç, a city in Albania * Lac, a village in Voloiac Commune, Mehedinţi County, Romania * Lac district, a district in the canton of Fribourg, Switzerland * Lancing railway station, a railway station in Sussex, England (station code: LAC) Elsewhere * Lac, a standard astronomical constellation abbreviation of Lacerta * Latin America and the Caribbean or LAC, a regional definition by the United Nations Other uses * Lac (resin), a resinous substance produced by insects **Shellac, the processed form of this resin * ''Lac'', French for lake (body of water) * ''lác'', an element in Anglo-Saxon names meaning "fight, play" *Lac, a character in Arthurian romance, father of Erec * LAC, the ICAO operator designator for Lockheed Corporation (Lockheed Aircraft Corporation), Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematica
Wolfram (previously known as Mathematica and Wolfram Mathematica) is a software system with built-in libraries for several areas of technical computing that allows machine learning, statistics, symbolic computation, data manipulation, network analysis, time series analysis, NLP, optimization, plotting functions and various types of data, implementation of algorithms, creation of user interfaces, and interfacing with programs written in other programming languages. It was conceived by Stephen Wolfram, and is developed by Wolfram Research of Champaign, Illinois. The Wolfram Language is the programming language used in ''Mathematica''. Mathematica 1.0 was released on June 23, 1988 in Champaign, Illinois and Santa Clara, California. Mathematica's Wolfram Language is fundamentally based on Lisp; for example, the Mathematica command Most is identically equal to the Lisp command butlast. There is a substantial literature on the development of computer algebra systems (CAS). __TOC_ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gini Coefficient
In economics, the Gini coefficient ( ), also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income distribution, income inequality, the wealth distribution, wealth inequality, or the consumption inequality within a nation or a social group. It was developed by Italian statistics, statistician and Sociology, sociologist Corrado Gini. The Gini coefficient measures the economic inequality, inequality among the values of a frequency distribution, such as income levels. A Gini coefficient of 0 reflects perfect equality, where all income or wealth values are the same. In contrast, a Gini coefficient of 1 (or 100%) reflects maximal inequality among values, where a single individual has all the income while all others have none. Corrado Gini proposed the Gini coefficient as a measure of social inequality, inequality of income inequality metrics, income or Wealth concentration, wealth. For Organisation for Economic Co-operatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
