Learning Goal: I’m working on a macro economics question and need an explanation

Learning Goal: I’m working on a macro economics question and need an explanation and answer to help me learn.In this question, you will need to calculate the Head Count Ratio and Poverty Gap Index using the data provided below.
Poverty Gap Index (PGI) = Where the variables are defined as follows:N = Total populationz = Income at the poverty linej = household number (if there are 4 households, j = 1, 2, 3, 4)yj = Income of individuals below the poverty lineq = Number of people below the poverty lineConsider the county Vernon with 8 households, hence j = 1 to 8. The income poverty line (z) = $45/month. The incomes (yj) of the 8 households are:y1 = $40/month y2 = $35/month y3 = $30/month y4 = $25/month y5 = $20/monthy6 = $15/month y7 = $10/monthy8 = $5/month Answer the following questions:a.Calculate the Head Count Ratio (HCR). Show your calculations. b.Calculate the PGI using the formula and the data in this question. Show your calculations. c.Calculate the Squared PGI.
Requirements: please show calculations

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