90% Confidence Interval Upper Bound of Estimate of Median Household Income for Hawaii
This dataset tracks 90% confidence interval upper bound of estimate of median household income for hawaii over time.
Latest Value
99019.00
Year-over-Year Change
57.07%
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 Hawaii. It provides insights into the statistical reliability and uncertainty around the median income estimate for Hawaii.
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 of the estimate of median household income for Hawaii represents the upper value of the range within which the true median household income in Hawaii is expected to fall, with 90% confidence. This metric is useful for economists and policymakers to assess the precision and reliability of the median income estimate.
Methodology
The data is collected and calculated by the U.S. Census Bureau.
Historical Context
This trend is relevant for economic analysis and policymaking related to household income and living standards in Hawaii.
Key Facts
- The upper bound of the 90% confidence interval for Hawaii's median household income was $77,765 in 2019.
- Hawaii's median household income is typically higher than the national average.
- Confidence intervals help quantify the reliability and uncertainty around income estimates.
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 Hawaii. It provides a statistical range for the true median income value.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists and policymakers to assess the precision and reliability of the median household income estimate for Hawaii, which is important for understanding living standards and making informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and institutions to analyze household income and living standards in Hawaii, which can inform economic policies and programs.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological limitations of the U.S. Census Bureau's household income estimates.
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Citation
U.S. Census Bureau, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Hawaii (MHICIUBHI15000A052NCEN), retrieved from FRED.