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The ancient Greek philosophers Plato and Aristotle debated economic equality. Painting by Raffaello Sanzio (1509). According to professor of politics Ed Rooksby, the concept of equality of outcome is an important one in disputes between different political positions, since equality has overall been seen as positive and an important concept that is "deeply embedded in the fabric of modern ...
In probability theory, an outcome is a possible result of an experiment or trial. [1] Each possible outcome of a particular experiment is unique, and different outcomes are mutually exclusive (only one outcome will occur on each trial of the experiment). All of the possible outcomes of an experiment form the elements of a sample space. [2]
The mean concentration of results will be designed to a specific population which will limit the data from being externally valid. The axiom may seem hard to understand at first but the overall meaning is that the accumulation of disadvantages can lead to premature mortality, or in simpler terms, younger death.
Statistical discrimination is a theorized behavior in which group inequality arises when economic agents (consumers, workers, employers, etc.) have imperfect information about individuals they interact with. [1] According to this theory, inequality may exist and persist between demographic groups even when economic agents are rational.
In probability theory, Markov's inequality gives an upper bound on the probability that a non-negative random variable is greater than or equal to some positive constant. Markov's inequality is tight in the sense that for each chosen positive constant, there exists a random variable such that the inequality is in fact an equality. [1]
In probability theory, Boole's inequality, also known as the union bound, says that for any finite or countable set of events, the probability that at least one of the events happens is no greater than the sum of the probabilities of the individual events. This inequality provides an upper bound on the probability of occurrence of at least one ...
In economics, the Gini coefficient (/ ˈ dʒ iː n i / JEE-nee), also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality [2] within a nation or a social group.
The disease outcome is regressed on the proportion of the population that has a higher position in the hierarchy. The RII is particularly valuable when comparing risk factors (independent variables) that are on very different scales (e.g. low SES, low IQ, cigarette smoking). The RII is calculated in the following way: [2] [clarification needed]