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No, it yields a Gini coefficient very close to zero. The Gini coefficient is defined as 1/2 the mean absolute difference considering all pairs of households:
by tobinfricke 6y ago
No, it yields a Gini coefficient very close to zero.
The Gini coefficient is defined as 1/2 the mean absolute difference considering all pairs of households:
https://en.wikipedia.org/wiki/Gini_coefficient https://en.wikipedia.org/wiki/Gini_coefficient
A group of people where everyone has the same income as a Gini coefficient of exactly zero. Adding a single outlier will increase it a little. A group of 1001 with 1000 people earning $1 and one person earning $100 has a Gini coefficient of 0.09.