90% Confidence Interval Upper Bound of Estimate of Median Household Income for Montana
MHICIUBMT30000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72,341.00
Year-over-Year Change
60.83%
Date Range
1/1/1989 - 1/1/2023
Summary
The 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Montana measures the upper limit of the 90% confidence interval for the estimated median household income in the state of Montana.
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
This statistic represents the upper bound of the 90% confidence interval for the estimated median household income in Montana. It provides insight into the range of plausible values for the true median household income in the state, based on survey data.
Methodology
The data is calculated by the U.S. Census Bureau using survey responses and statistical modeling.
Historical Context
This metric is used by economists and policymakers to analyze income distributions and trends within states.
Key Facts
- The 90% confidence interval indicates a range in which the true median household income has a 90% probability of falling.
- Montana's 90% confidence interval upper bound provides an estimate of the upper limit of the state's median household income.
- This statistic is used to assess income inequality and economic well-being within Montana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the upper bound of the 90% confidence interval for the estimated median household income in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the range of plausible values for the true median household income in Montana, which is useful for analyzing income distributions and economic well-being within the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau using survey responses and statistical modeling.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess income inequality and economic conditions within Montana.
Q: Are there update delays or limitations?
A: The data is subject to the limitations and update schedules of the U.S. Census Bureau's household income surveys.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Montana (MHICIUBMT30000A052NCEN), retrieved from FRED.