title: Estimation of the Gini coefficient for the lognormal distribution of income using the Lorenz curve.
abstract: The main objective of the study is to compare the Newton-Cotes methods such as the Trapezium rule, Simpson 1/3 rule and Simpson 3/8 rule to estimate the area under the Lorenz curve and Gini coefficient of income using polynomial function with degree 5. Comparing the Gini coefficients of income computed from the Polynomial function with degree 5 for the Trapezium, Simpson 1/3 and Simpson 3/8 methods using the relative errors showed that the trapezium rule, Simpson's 1/3 rule and Simpson's 3/8 rule show negative biases with the Simpson 1/3 rule yielding the lowest absolute relative true error of 4.230711 %.
authors: Department of Statistics, School of Physical and Mathematical Sciences, College of Basic and Applied Sciences, University of Ghana, Accra, Ghana.
authors: Kwasi A
authors: KA
authors: Darkwah
authors: Department of Statistics, School of Physical and Mathematical Sciences, College of Basic and Applied Sciences, University of Ghana, Accra, Ghana.
authors: Ezekiel N N
authors: EN
authors: Nortey
authors: Department of Statistics, School of Physical and Mathematical Sciences, College of Basic and Applied Sciences, University of Ghana, Accra, Ghana.
authors: Anani
authors: A
authors: Lotsi
keywords: Gini coefficient; Income distribution; Lognormal distribution; Lorenz curve; Newton–Cotes methods