90% Confidence Interval Lower Bound of Estimate of Median Household Income for Colorado
This dataset tracks 90% confidence interval lower bound of estimate of median household income for colorado over time.
Latest Value
91759.00
Year-over-Year Change
67.00%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend measures the lower bound of the 90% confidence interval for the estimate of median household income in Colorado. It provides a statistically-grounded range for assessing economic well-being in the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 90% confidence interval lower bound represents the lowest value within which the true median household income in Colorado has a 90% probability of falling. This metric helps analysts and policymakers understand the range of uncertainty around income data for the state.
Methodology
The data is calculated by the U.S. Census Bureau based on survey sampling of Colorado households.
Historical Context
This trend is used to interpret the distribution of household incomes and guide state-level economic and social policies.
Key Facts
- The 90% confidence interval represents a statistically-derived range.
- The lower bound indicates the minimum value for the true median income.
- This metric helps analysts assess economic conditions in Colorado.
FAQs
Q: What does this economic trend measure?
A: This trend measures the lower bound of the 90% confidence interval for the estimated median household income in Colorado.
Q: Why is this trend relevant for users or analysts?
A: The confidence interval provides a statistically-grounded range for assessing economic well-being and income distribution in Colorado.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on survey sampling of Colorado households.
Q: How is this trend used in economic policy?
A: This metric helps analysts and policymakers interpret the distribution of household incomes and guide state-level economic and social policies.
Q: Are there update delays or limitations?
A: The data may have a delay in reporting and reflects statistical sampling, which introduces some uncertainty.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Colorado (MHICILBCO08000A052NCEN), retrieved from FRED.