Consider the following distribution of income in a 12-person economy, (1, 1, 1.5, 1.5, 2, 2, 2, 2, 3, 3, 3, 3). Calculate the Gini coefficient of the economy using quartiles (dividing the economy into...

Extracted text: Consider the following distribution of income in a 12-person economy, (1, 1, 1.5, 1.5, 2, 2, 2, 2, 3, 3, 3, 3). Calculate the Gini coefficient of the economy using quartiles (dividing the economy into 4 equal parts meaning each section is 25% of the economy or the x axis is in increments of 25% compared to 10% for deciles or 20% for quintiles) (Round answer to 2 decimal places) 0.41