90% Confidence Interval Lower Bound of Estimate of Median Household Income for District of Columbia
MHICILBDC11000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100,688.00
Year-over-Year Change
66.61%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend represents the lower bound of the 90% confidence interval for the estimate of median household income in the District of Columbia. It provides insights into the statistical reliability of income data and informs economic policymaking.
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 for median household income in the District of Columbia is a statistical measure that indicates the lowest plausible value for the true median household income, with 90% confidence. This metric helps quantify the uncertainty around income estimates and is used by economists and policymakers to analyze trends and make informed decisions.
Methodology
This data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
Policymakers and analysts use this trend to understand the economic well-being of households in the District of Columbia and inform policies aimed at improving household financial security.
Key Facts
- The 90% confidence interval represents a range in which the true median household income has a 90% probability of falling.
- This trend provides a conservative estimate of the lowest plausible value for median household income in the District of Columbia.
- Analyzing changes in the confidence interval over time can help identify shifts in the distribution of household incomes.
FAQs
Q: What does this economic trend measure?
A: This trend represents the lower bound of the 90% confidence interval for the estimated median household income in the District of Columbia. It indicates the lowest plausible value for the true median household income with 90% confidence.
Q: Why is this trend relevant for users or analysts?
A: This metric helps quantify the uncertainty around income estimates and is used by economists and policymakers to analyze trends and make informed decisions about the economic well-being of households in the District of Columbia.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand the economic well-being of households in the District of Columbia and inform policies aimed at improving household financial security.
Q: Are there update delays or limitations?
A: The data may be subject to the same update delays and limitations as the underlying American Community Survey.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for District of Columbia (MHICILBDC11000A052NCEN), retrieved from FRED.