READY SIGNAL CONTROL DATA

Resident Population by State

Why Use This Data Source In Your Models?

State resident population indicates population size and density, and economic strength.

Resident Population by State

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Automated Data Profiling

Ready Signal automatically profiles each data set and offers up suggested industry standard data science treatments to utilize with these data in your models.

Suggested Treatment:

The data shows seasonality. The data should be adjusted. While the Order Norm transformation, provides the best normality, the Arcsin variable will also perform well.

Grain Transformation:

Data is able to be distributed by time but not by geography. The roll up method used is Sum.

Source:
U.S. Census Bureau

Release:
Annual Estimates of the Population for the U.S. and States, and for Puerto Rico.

Units:
Thousands of Persons, Not Seasonally Adjusted

Frequency:
Annual

Available Through:
12/31/2022

Suggested Treatment:

The data shows seasonality. The data should be adjusted. While the Order Norm transformation, provides the best normality, the Arcsin variable will also perform well.

Grain Transformation:

Data is able to be distributed by time but not by geography. The roll up method used is Sum.

Auto Correlation Analysis:

Data does not show strong auto correlation indicating no need for differencing

The ACF indicates 0 order differencing is appropriate.

Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.48

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.12 p-value = 0.09 indicates that the data is stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.79 with a p-value =0.01 indicating the data does not follow a normal distribution.

A skewness score of 1.63 indicates the data are substantially skewed.

Hartigan's dip test score of 0.06 with a p-value of 0.98 inidcates the data is unimodal

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

No transform
3.07
Box-cox
3.07
Log_b(x-a)
3.07
sqrt(x+a)
3.07
exp(x)
NA
arcsinh(x)
3.07
Yeo-Johnson
3.07
OrderNorm
0.27

Auto Correlation Function

Auto Correlation Function After Differencing

Partial Auto Correlation Function

Data Notes:

The following states do not report for this feature: District of Columbia, Puerto Rico. Additionally, 2020 data is not currently available.

Citation:

U.S. Census Bureau, Resident Population, retrieved from FRED, Federal Reserve Bank of St. Louis; January 23, 2020.

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