The conversation between human and AI assistant.
Can you give me a simple definition of GINI index?
How is the GINI index calculated?
The GINI index is calculated by plotting the cumulative percentage of income or wealth against the cumulative percentage of the population arranged from poorest to richest. The area between this curve and the 45-degree line represents the degree of income or wealth inequality in the population, with a larger area indicating higher levels of inequality.