Whipple's index

Whipple's Index is a way to measure how fair or equal something is. It is usually used when talking about how equal people's incomes are, but it can also be used for other things. In Whipple's Index, you make a list of everyone's incomes from lowest to highest. Then, you add up the incomes from the bottom to the top, and also add up the incomes from the top to the bottom. Whipple's Index is calculated by subtracting the top to bottom amount from the bottom to top amount and then dividing the result by the top to bottom amount. The bigger the number you get before you divide, the more equal the incomes are. So a higher index number means that incomes are more equal.