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Correlations > Industry Statistics > Electrical equipment, appliance, & component manufacturing > Total cost of materials

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Correlations between Industry > Electrical equipment, appliance, & component manufacturing > Total cost of materials ...

Variable Strength
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total value of shipments 96% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Electrical equipment and appliance manufacturing 89% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Electrical equipment and appliance manufacturing 89% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total capital expenditures 86% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Value added 85% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Electrical equipment and appliance manufacturing 82% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Electrical equipment and appliance manufacturing 79% [plot | correlate | graph]
...and  Labor > Electrical equipment, appliance, & component manufacturing > Number of employees 78% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Production workers wages 75% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total cost of materials 74% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total value of shipments 74% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Plastics and rubber products manufacturing 72% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Plastics and rubber products manufacturing 72% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Plastics and rubber products manufacturing 72% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Annual payroll 72% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Value added 71% [plot | correlate | graph]
...and  Labor > Paper manufacturing > Production workers hours 69% [plot | correlate | graph]
...and  Labor > Electrical equipment, appliance, & component manufacturing > Production workers hours 68% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total capital expenditures 68% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Paper manufacturing 67% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total cost of materials 66% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Annual payroll 66% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing 65% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Number of employees 65% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Total cost of materials 65% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total value of shipments 64% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Plastics and rubber products manufacturing 63% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours 63% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Total cost of materials 63% [plot | correlate | graph]
...and  Labor > Paper manufacturing > Production workers (average per year) 63% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages 62% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Total value of shipments 62% [plot | correlate | graph]
...and  Labor > Plastics & rubber products manufacturing > Production workers (average per year) 62% [plot | correlate | graph]
...and  Industry > Food manufacturing > Value added 62% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Total value of shipments 61% [plot | correlate | graph]
...and  Labor > Machinery manufacturing > Production workers hours 61% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Truck transportation 61% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added 61% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Fabricated metal product manufacturing 61% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Fabricated metal product manufacturing 61% [plot | correlate | graph]
...and  Industry > Food manufacturing > Production workers wages 60% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Food product manufacturing 60% [plot | correlate | graph]
...and  Industry > Food manufacturing > Annual payroll 60% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Paper manufacturing 59% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Paper manufacturing 59% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Number of employees 59% [plot | correlate | graph]
...and  Labor > Electrical equipment, appliance, & component manufacturing > Production workers (average per year) 59% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Value added 58% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total capital expenditures 58% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Value added 58% [plot | correlate | graph]
Average: 68%

About Correlations:

A correlation is a statistical measure of similarity between at least two given sets of data. StateMaster's correlations compare two variables from our database and reveal statistical relationships between them. The percentages you see represent the strength (or likelihood) that a change in the topic variable is matched by a change in the listed variables below it. But remember: These correlations do not imply causation, that is, one does not necessarily cause the other. Also, not all variables contain all states, rather subsets of states matched together.

VIEW FOR THIS VARIABLE:

NOTES:

  • Outliers have been removed only where they are outside 3 standard deviations of the mean.
  • Only variable pairs where at least 15 states match for each have been considered.
  • Strength is given by the correlation coefficient (R squared). It is the fraction of variation in Y that can be attributed to the variation in X. 100% signifies a perfect fit (R squared of 1). The top 50 such stats are displayed


DEFINITION: This term refers to direct charges actually paid or payable for items consumed or put into production during the year, including freight charges and other direct charges incurred by the establishment in acquiring these materials. It includes the cost of materials or fuel consumed, whether purchased by the individual establishment from other companies, transferred to it from other establishments of the same company, or withdrawn from inventory during the year.

SOURCE: Annual Survey of Manufactures, 2004

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