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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] |
Economics Gini Coefficient2
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt
Debt is an obligation that requires one party, the debtor, to pay money Loan, borrowed or otherwise withheld from another party, the creditor. Debt may be owed by a sovereign state or country, local government, company, or an individual. Commercial debt is generally subject to contractual terms regarding the amount and timing of repayments of #Principal, principal and interest. Loans, bond (finance), bonds, notes, and Mortgage loan, mortgages are all types of debt. In financial accounting, debt is a type of financial transaction, as distinct from equity (finance), equity. The term can also be used metaphorically to cover morality, moral obligations and other interactions not based on a monetary value. For example, in Western cultures, a person who has been helped by a second person is sometimes said to owe a "debt of gratitude" to the second person. Etymology The English term "debt" was first used in the late 13th century and comes by way of Old French from the Latin verb ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Probability Density Function
In probability theory, a probability density function (PDF), density function, or density of an absolutely continuous random variable, is a Function (mathematics), function whose value at any given sample (or point) in the sample space (the set of possible values taken by the random variable) can be interpreted as providing a ''relative likelihood'' that the value of the random variable would be equal to that sample. Probability density is the probability per unit length, in other words, while the ''absolute likelihood'' for a continuous random variable to take on any particular value is 0 (since there is an infinite set of possible values to begin with), the value of the PDF at two different samples can be used to infer, in any particular draw of the random variable, how much more likely it is that the random variable would be close to one sample compared to the other sample. More precisely, the PDF is used to specify the probability of the random variable falling ''within ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Continuous Distribution
In probability theory and statistics, a probability distribution is a function that gives the probabilities of occurrence of possible events for an experiment. It is a mathematical description of a random phenomenon in terms of its sample space and the probabilities of events (subsets of the sample space). For instance, if is used to denote the outcome of a coin toss ("the experiment"), then the probability distribution of would take the value 0.5 (1 in 2 or 1/2) for , and 0.5 for (assuming that the coin is fair). More commonly, probability distributions are used to compare the relative occurrence of many different random values. Probability distributions can be defined in different ways and for discrete or for continuous variables. Distributions with special properties or for especially important applications are given specific names. Introduction A probability distribution is a mathematical description of the probabilities of events, subsets of the sample space. The sa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Piecewise Linear Function
In mathematics, a piecewise linear or segmented function is a real-valued function of a real variable, whose graph is composed of straight-line segments. Definition A piecewise linear function is a function defined on a (possibly unbounded) interval of real numbers, such that there is a collection of intervals on each of which the function is an affine function. (Thus "piecewise linear" is actually defined to mean "piecewise affine".) If the domain of the function is compact, there needs to be a finite collection of such intervals; if the domain is not compact, it may either be required to be finite or to be locally finite in the reals. Examples The function defined by : f(x) = \begin -x - 3 & \textx \leq -3 \\ x + 3 & \text-3 < x < 0 \\ -2x + 3 & \text0 \leq x < 3 \\ 0.5x - 4.5 & \textx \geq 3 \end is piecewise linear with four pieces. The graph of this function is shown to the right. Since the graph of an affine(*) function is a [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Continuous Function
In mathematics, a continuous function is a function such that a small variation of the argument induces a small variation of the value of the function. This implies there are no abrupt changes in value, known as '' discontinuities''. More precisely, a function is continuous if arbitrarily small changes in its value can be assured by restricting to sufficiently small changes of its argument. A discontinuous function is a function that is . Until the 19th century, mathematicians largely relied on intuitive notions of continuity and considered only continuous functions. The epsilon–delta definition of a limit was introduced to formalize the definition of continuity. Continuity is one of the core concepts of calculus and mathematical analysis, where arguments and values of functions are real and complex numbers. The concept has been generalized to functions between metric spaces and between topological spaces. The latter are the most general continuous functions, and their d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Random Variable
A random variable (also called random quantity, aleatory variable, or stochastic variable) is a Mathematics, mathematical formalization of a quantity or object which depends on randomness, random events. The term 'random variable' in its mathematical definition refers to neither randomness nor variability but instead is a mathematical function (mathematics), function in which * the Domain of a function, domain is the set of possible Outcome (probability), outcomes in a sample space (e.g. the set \ which are the possible upper sides of a flipped coin heads H or tails T as the result from tossing a coin); and * the Range of a function, range is a measurable space (e.g. corresponding to the domain above, the range might be the set \ if say heads H mapped to -1 and T mapped to 1). Typically, the range of a random variable is a subset of the Real number, real numbers. Informally, randomness typically represents some fundamental element of chance, such as in the roll of a dice, d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
P–P Plot
In statistics, a P–P plot (probability–probability plot or percent–percent plot or P value plot) is a probability plot for assessing how closely two data sets agree, or for assessing how closely a dataset fits a particular model. It works by plotting the two cumulative distribution functions against each other; if they are similar, the data will appear to be nearly a straight line. This behavior is similar to that of the more widely used Q–Q plot, with which it is often confused. Definition A P–P plot plots two cumulative distribution functions (cdfs) against each other: given two probability distributions, with cdfs "''F''" and "''G''", it plots (F(z),G(z)) as ''z'' ranges from -\infty to \infty. As a cdf has range ,1 the domain of this parametric graph is (-\infty,\infty) and the range is the unit square ,1times ,1 Thus for input ''z'' the output is the pair of numbers giving what ''percentage'' of ''f'' and what ''percentage'' of ''g'' fall at or below ''z.'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gini Coefficient US 2016
Gini may refer to: *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 ... (also the Gini index) in economics, an indicator of income inequality *G.I.N.I., a predecessor organization to Post-Polio Health International *Gini (soft drink), a French brand of soft drink *A jinni, or djinni or genie, a member of the jinn supernatural beings People Given name *Gini Koch, American fantasy/SF writer *Gini Cruz Santos (born 1966), Filipina animator at Pixar *Gini Graham Scott (born 1942), American non-fiction author in various fields *Gini Reticker, American film director Surname *Corrado Gini (1884–1965), Italian statistician, demographer, sociologist and developer of the Gini coefficient *Luis Gini (born 1935), Paraguayan footballer *Mahabub Ara Begum Gini (born 1961), ... [...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] |
Attack Rate
In epidemiology, the attack rate is the proportion of an at-risk population that contracts the disease during a specified time interval. It is used in hypothetical predictions and during actual outbreaks of disease. An at-risk population is defined as one that has no immunity to the attacking pathogen, which can be either a novel pathogen or an established pathogen. It is used to project the number of infections to expect during an epidemic. This aids in marshalling resources for delivery of medical care as well as production of vaccines and/or anti-viral and anti-bacterial medicines. The rate is arrived at by taking the number of new cases in the population at risk and dividing by the number of persons at risk in the population. See also * Incidence (epidemiology) In epidemiology Epidemiology is the study and analysis of the distribution (who, when, and where), patterns and Risk factor (epidemiology), determinants of health and disease conditions in a defined populat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cumulative Incidence
In epidemiology, incidence reflects the number of new cases of a given medical condition in a population within a specified period of time. Incidence proportion Incidence proportion (IP), also known as cumulative incidence, is defined as the probability that a particular event, such as occurrence of a particular disease, has occurred in a specified period: Incidence = \frac For example, if a population contains 1,000 persons and 28 develop a condition from the time the disease first occurred until two years later, the cumulative incidence is 28 cases per 1,000 persons, i.e. 2.8%. Incidence rate The incidence rate can be calculated by dividing the number of subjects developing a disease by the total time at risk from all patients: Incidence\ rate = \frac One of the important advantages of incidence rate is that it doesn't require all subjects to be present for the whole study because it's only interested in the time at risk. Incidence vs. prevalence Incidence should not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
