This video will help you in understanding the concept of Lorenz curve. Please follow these steps,
1. Find the cumulative value of the given data.
2. Convert these cumulative values in percentage.
3. Draw both axis (X-axis and Y-axis).
4. Take cumulative % of income on Y-axis and cumulative % of frequency on X-axis.
5. Draw line of equal distribution at 45° angle.
6. Mark point by matching cumulative % of income and cumulative % of frequency.
7. Draw Lorenz curve by joining these points.
