READY SIGNAL CONTROL DATA

Median Nonfamily Household Income In The Past 12 Months (In 2020 Inflation-Adjusted Dollars)

Why Use This Data Source In Your Models?

Median Nonfamily Household Income In The Past 12 Months (In 2020 Inflation-Adjusted Dollars)

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Suggested Treatment:

The data shows auto correlation, seasonality and a non-normal distribution. The data should be differenced and seasonally adjusted. While the Boxcox transformation, provides the best normality, the Yeo Johnson variable will also perform well.

Grain Transformation:

Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.

Source:
US Census Bureau

Release:
2020 ACS 1-Year Experimental Data

Units:
Nonfamily households

Frequency:
Point in Time 2020

Suggested Treatment:

The data shows auto correlation, seasonality and a non-normal distribution. The data should be differenced and seasonally adjusted. While the Boxcox transformation, provides the best normality, the Yeo Johnson variable will also perform well.

Grain Transformation:

Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.

Auto Correlation Analysis:

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.07 p-value = 0.10 indicates that the data is stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.86 with a p-value =0.00 indicating the data does not follow a normal distribution.

A skewness score of 1.86 indicates the data are substantially skewed.

Hartigan's dip test score of 0.04 with a p-value of 0.64 inidcates the data is unimodal

Statistics (Pearson P/ df, lower => more normal)

No transform
NA
Box-cox
1.92
Log_b(x-a)
1.95
sqrt(x+a)
1.98
exp(x)
NA
arcsinh(x)
1.95
Yeo-Johnson
1.92
OrderNorm
2.05


Data Notes:

2020 ACS 1-Year Experimental Data

Citation:

U.S. Census Bureau, 2020 American Community Survey 1-Year Experimental Estimates

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