90% Confidence Interval Upper Bound of Estimate of Median Household Income for Arkansas
MHICIUBAR05000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,868.00
Year-over-Year Change
51.14%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend measures the upper bound of the 90% confidence interval for the estimate of median household income in Arkansas. It provides insights into the statistical uncertainty around the median income estimate for 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 upper bound for median household income in Arkansas represents the upper limit of the range within which the true median income is estimated to fall with 90% probability. This metric is useful for assessing the precision of the median income estimate and identifying potential changes over time.
Methodology
The data is calculated by the U.S. Census Bureau using survey responses and statistical modeling techniques.
Historical Context
This trend is used by economists and policymakers to analyze the economic well-being of Arkansas households and inform policy decisions.
Key Facts
- The upper bound was $55,761 in 2021.
- The upper bound has increased by 16% since 2010.
- Arkansas's upper bound is lower than the national median household income.
FAQs
Q: What does this economic trend measure?
A: This trend measures the upper bound of the 90% confidence interval for the estimate of median household income in Arkansas. It provides insights into the statistical uncertainty around the median income estimate for the state.
Q: Why is this trend relevant for users or analysts?
A: The 90% confidence interval upper bound for median household income in Arkansas is useful for assessing the precision of the median income estimate and identifying potential changes over time. It helps economists and policymakers analyze the economic well-being of Arkansas households.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau using survey responses and statistical modeling techniques.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the economic well-being of Arkansas households and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the survey and modeling limitations of the U.S. Census Bureau, and may have update delays.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Arkansas (MHICIUBAR05000A052NCEN), retrieved from FRED.