Visit http://classof1.com/homework-help/statistics-homework-help/ to get customized help with your statistics homework. Pearson's Correlation Coefficient: Pearson's correlation coefficients are the most widely used method of measuring the degree of relationship between two variables. Calculation and application of this has been discussed in this document.
Figure 1: Illustration of Gini Coefficient and Its Calculation. Suppose we examine the income of every individual of a country and arrange the individuals in order of increasing income. If we plot the percentage of national income versus the population percentage (Lorenz curve), we will get a curve like that shown