90% Confidence Interval Upper Bound of Estimate of Median Household Income for Pennsylvania
MHICIUBPA42000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74,334.00
Year-over-Year Change
47.17%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic indicator represents the upper bound of the 90% confidence interval for the estimate of median household income in Pennsylvania. It provides insight into the statistical uncertainty around income estimates and is relevant for economic and policy analysis.
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 Pennsylvania is a statistical measure that quantifies the upper range of the 90% confidence interval around the estimated median household income value for the state. This metric helps analysts and policymakers understand the degree of uncertainty in income data and informs assessments of economic well-being and inequality.
Methodology
The data is calculated by the U.S. Census Bureau using survey sampling methods.
Historical Context
This trend is used by economists, policymakers, and market analysts to contextualize income data and evaluate economic conditions in Pennsylvania.
Key Facts
- The upper bound represents the maximum value in the 90% confidence interval.
- This metric is released annually by the U.S. Census Bureau.
- It provides insight into the precision of median household income estimates.
FAQs
Q: What does this economic trend measure?
A: The 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Pennsylvania represents the upper range of the 90% confidence interval around the estimated median household income value for the state.
Q: Why is this trend relevant for users or analysts?
A: This metric helps analysts and policymakers understand the degree of uncertainty in income data and informs assessments of economic well-being and inequality in Pennsylvania.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau using survey sampling methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and market analysts to contextualize income data and evaluate economic conditions in Pennsylvania.
Q: Are there update delays or limitations?
A: The data is released annually by the U.S. Census Bureau, so there may be a delay in the most recent updates.
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Citation
U.S. Census Bureau, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Pennsylvania (MHICIUBPA42000A052NCEN), retrieved from FRED.