Why Use This Data Source In Your Models?
State resident population indicates population size and density, and economic strength.
Resident Population by State
U.S. Census Bureau
Annual Estimates of the Population for the U.S. and States, and for Puerto Rico.
Thousands of Persons, Not Seasonally Adjusted
The data shows auto correlation, seasonality and a non-normal distribution. The data should be differenced and seasonally adjusted. While the Order Norm transformation, provides the best normality, the Untransformed variable will also perform well.
Data is able to be distributed by time but not by geography. The roll up method used is Sum.
Data shows auto correlation indicating a need for differencing
The ACF indicates 2 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.80 p-value = 0.01 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.87 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of -0.37 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.05 with a p-value of 0.02 inidcates the data is multimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
The following states do not report for this feature: District of Columbia, Puerto Rico. Additionally, 2020 data is not currently available.
U.S. Census Bureau, Resident Population, retrieved from FRED, Federal Reserve Bank of St. Louis; January 23, 2020.
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