90% Confidence Interval Upper Bound of Estimate of Median Household Income for Alabama
MHICIUBAL01000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62,950.00
Year-over-Year Change
50.02%
Date Range
1/1/1989 - 1/1/2023
Summary
The 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Alabama measures the upper limit of the 90% confidence interval for the median household income in Alabama, providing a statistical range for this key economic indicator.
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
This economic trend represents the upper bound of the 90% confidence interval for the estimated median household income in Alabama, which is a widely used metric for assessing the financial well-being and purchasing power of Alabama households. The confidence interval provides a range that is likely to contain the true median household income value.
Methodology
The data is collected and calculated by the U.S. Census Bureau as part of their annual household income surveys.
Historical Context
This trend is used by policymakers, economists, and market analysts to understand the income distribution and spending potential of Alabama households.
Key Facts
- The upper bound of the 90% confidence interval represents the maximum value that the true median household income in Alabama is likely to fall within.
- This trend provides a statistical range to account for sampling and estimation uncertainty in the median household income metric.
- The confidence interval is used to assess the precision and reliability of the median household income estimate for Alabama.
FAQs
Q: What does this economic trend measure?
A: This trend measures the upper bound of the 90% confidence interval for the estimated median household income in Alabama, providing a statistical range for this key economic indicator.
Q: Why is this trend relevant for users or analysts?
A: The 90% confidence interval for median household income is relevant for understanding the financial well-being and purchasing power of Alabama households, which is important for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau as part of their annual household income surveys.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to understand the income distribution and spending potential of Alabama households, which informs economic and policy decisions.
Q: Are there update delays or limitations?
A: There may be delays in the availability of the latest data, as the U.S. Census Bureau's household income surveys are conducted annually.
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Citation
U.S. Census Bureau, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Alabama (MHICIUBAL01000A052NCEN), retrieved from FRED.