90% Confidence Interval Upper Bound of Estimate of Median Household Income for Indiana
MHICIUBIN18000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70,253.00
Year-over-Year Change
49.93%
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 Indiana. It provides a statistical estimate of the highest possible median income within a 90% probability range.
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 Indiana represents a high-end estimate of typical household earnings in the state. This metric is used by economists and policymakers to gauge economic well-being and make informed decisions.
Methodology
The data is calculated by the U.S. Census Bureau based on survey responses.
Historical Context
This trend helps inform economic and social policies related to cost of living, household budgets, and income distribution in Indiana.
Key Facts
- The 90% confidence interval provides a high-end estimate of median household income.
- Indiana's median household income is a key indicator of economic conditions in the state.
- Policymakers use this trend to understand income distribution and inform policy decisions.
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 Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a high-end estimate of typical household earnings in Indiana, which is useful for understanding economic well-being and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on survey responses.
Q: How is this trend used in economic policy?
A: This trend helps inform economic and social policies related to cost of living, household budgets, and income distribution in Indiana.
Q: Are there update delays or limitations?
A: The data is subject to the survey and estimation methods used by the Census Bureau, which may result in update delays or statistical limitations.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Indiana (MHICIUBIN18000A052NCEN), retrieved from FRED.