90% Confidence Interval Upper Bound of Estimate of Median Household Income for Kentucky
This dataset tracks 90% confidence interval upper bound of estimate of median household income for kentucky over time.
Latest Value
61746.00
Year-over-Year Change
48.45%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the upper bound of the 90% confidence interval for the estimate of median household income in Kentucky. It provides 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
The 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Kentucky represents the upper limit of the statistical range within which the true median household income for the state is expected to fall, with 90% confidence. Economists and policymakers use this data to analyze income trends and distribution.
Methodology
The U.S. Census Bureau calculates this statistic based on survey data.
Historical Context
This trend is relevant for understanding economic conditions and household financial health in Kentucky.
Key Facts
- The 90% confidence interval provides a statistical range for the estimate.
- Kentucky's median household income has important implications for consumer spending and economic growth.
- Tracking this trend over time can reveal changes in the state's income distribution.
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 Kentucky.
Q: Why is this trend relevant for users or analysts?
A: The confidence interval provides a statistical range for the median income estimate, which is important for understanding economic conditions and household financial health in the state.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau calculates this statistic based on survey data.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze income trends and distribution in Kentucky, which can inform decisions related to economic development, taxation, and social programs.
Q: Are there update delays or limitations?
A: The data is subject to the survey methodology and publication schedule of the U.S. Census Bureau.
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Citation
U.S. Census Bureau, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Kentucky (MHICIUBKY21000A052NCEN), retrieved from FRED.