North Dakota

By now it is well documented, here and perhaps everywhere, that North Dakota experienced a significant economic transition over the last ten years. How permanent and sustainable a change is the current question. At the risk of editorializing too much I will just point out, that is almost always the question, and we seldom have an answer until well after the fact. This issue aside, I looked at the median income data by county in North Dakota. The data are the 5-year estimates from the Census Bureau. If you want all counties in the state that is the data series you need to employ, and since I want to look at counties across the state that is what I chose. I took each county median income measure and divided it by the median income for the state as a whole to see how the individual counties changed over time. The first year was 2009.

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Continuing the look at economic differences across the state of North Dakota, today we turn to look at retail. One of the more aggravating things when you try to look at data at the county level are the redactions of information due to privacy concerns. I am not so much complaining about privacy rules are just venting that it makes the analysis less than complete because we do not know the situation for all counties. Here is what North Dakota looked like in 2015:

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One of the things I try to encourage in all students and develop in all my classes is an appreciation for probability. The inclusion of this is obvious in a statistics class, but it is something vital for understanding the world around us, particularly when it comes to economic and business policy. For those that listened to my show with JT at the end of September much of this may seem repetitious, but it is important enough that it bears repeating.

Continue reading Probabilistic Thinking & Local Economic Development

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