Gini Co-efficient

 

The Gini Coefficiant or the Gini Ratio or Index is a measure of the statistical dispersion to portray the distribution of income of a country’s residents. It is the most widely used measure of inequality and was created by a statistician and sociologist from Italy, Corrado Gini and first published in his paper Variability and Mutability in 1912. The index calculates the inequality among the values of a frequency distribution (for instance, the income levels). If the Gini Coefficient is 0, there is perfect equality, i.e., where all values are the same (like where everyone has the same income).

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