Question

The American Community Survey (ACS), part of the United States Census Bureau, conducts a yearly census similar to the one taken every ten years, but with a smaller percentage of participants. The most recent survey estimates with confidence that the mean household income in the U.S. falls between . Find the point estimate for mean U.S. household income and the error bound for mean U.S. household income.

Answer 1

the error bound for the mean U.S. household income is +/- $234, while the point estimate is $63179.

A yearly census identical to the one performed every ten years is conducted by the American Community Survey (ACS), a division of the United States Census Bureau, but with a lower participation rate. Since the most recent poll has high confidence that the mean household income in the United States is between, the point estimate for that income is $63179, and the error bound is +/- $234.

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