McCutcheon index
The McCutcheon Index is a way of measuring how evenly money is distributed among a group of people. Imagine you have a bunch of toys that you want to share with your friends. If everyone gets an equal number of toys, that means the toys are evenly distributed. But if one friend gets a lot of toys and the others don't get as many, that means the toys are unevenly distributed.
Now, think of the toys as money and your friends as people. The McCutcheon Index helps us figure out if the money is evenly distributed among the people or not. It looks at how much money each person has and compares it to the total amount of money in the group.
If everyone has about the same amount of money, the McCutcheon Index will be low. But if one person has a lot more money than everyone else, the Index will be high. A high McCutcheon Index means that the money is unevenly distributed, just like the toys in our earlier example.
Overall, the McCutcheon Index helps us understand how fair or unfair the distribution of money is within a group.
Now, think of the toys as money and your friends as people. The McCutcheon Index helps us figure out if the money is evenly distributed among the people or not. It looks at how much money each person has and compares it to the total amount of money in the group.
If everyone has about the same amount of money, the McCutcheon Index will be low. But if one person has a lot more money than everyone else, the Index will be high. A high McCutcheon Index means that the money is unevenly distributed, just like the toys in our earlier example.
Overall, the McCutcheon Index helps us understand how fair or unfair the distribution of money is within a group.