What is the Gini Coefficient?
The Gini coefficient is a way to measure the income distribution of a population. The value for the Gini coefficient ranges from 0 to 1 where higher values represent greater income inequality.
0 represents perfect income equality meaning everyone has the same income
1 represents perfect income inequality meaning one individual has all the income
How to Calculate Gini Coefficient in R
In this article, we will discuss what is Gini Coefficient and How to Calculate Gini Coefficient in R Programming Language.