90% Confidence Interval Upper Bound of Estimate of Median Household Income for Wisconsin
MHICIUBWI55000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75,435.00
Year-over-Year Change
48.43%
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 Wisconsin. It provides insight 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 represents the upper limit of the range within which the true median household income in Wisconsin has a 90% probability of falling. This metric is useful for analyzing the precision and reliability of income estimates at the state level.
Methodology
The data is calculated by the U.S. Census Bureau using survey sampling techniques.
Historical Context
This trend is relevant for policymakers, economists, and market analysts assessing the economic well-being of Wisconsin households.
Key Facts
- The upper bound exceeded $70,000 in 2021.
- Wisconsin's median household income is above the national average.
- Income inequality remains a key economic issue in the state.
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 the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: The confidence interval upper bound provides insight into the statistical reliability of the median income estimate, which is important for assessing the economic well-being of Wisconsin households.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau using survey sampling techniques.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, economists, and market analysts assessing the economic conditions and income distribution in Wisconsin.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Census Bureau, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Wisconsin (MHICIUBWI55000A052NCEN), retrieved from FRED.