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Correlations > Industry Statistics > Electrical equipment, appliance, & component manufacturing > Value added

VIEW DATA:   Totals   Per $ GDP  
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Showing latest available data.

Correlations between Industry > Electrical equipment, appliance, & component manufacturing > Value added ...

Variable Strength
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total value of shipments 95% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Electrical equipment and appliance manufacturing 91% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Electrical equipment and appliance manufacturing 91% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Electrical equipment and appliance manufacturing 88% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Annual payroll 88% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total cost of materials 85% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total capital expenditures 83% [plot | correlate | graph]
...and  Labor > Electrical equipment, appliance, & component manufacturing > Number of employees 80% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Electrical equipment and appliance manufacturing 75% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Plastics and rubber products manufacturing 74% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Production workers wages 74% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total cost of materials 73% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total value of shipments 72% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing 71% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added 70% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total value of shipments 70% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Plastics and rubber products manufacturing 70% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Plastics and rubber products manufacturing 70% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Value added 70% [plot | correlate | graph]
...and  Labor > Paper manufacturing > Production workers hours 70% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Fabricated metal product manufacturing 69% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Fabricated metal product manufacturing 69% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total cost of materials 68% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Fabricated metal product manufacturing 67% [plot | correlate | graph]
...and  Labor > Printing & related support activities > Production workers hours 67% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total capital expenditures 67% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Annual payroll 67% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Annual payroll 66% [plot | correlate | graph]
...and  Industry > Printing & related support activities > Total cost of materials 66% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Number of employees 66% [plot | correlate | graph]
...and  Labor > Printing & related support activities > Production workers (average per year) 66% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Production workers wages 65% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Paper manufacturing 65% [plot | correlate | graph]
...and  Industry > Printing & related support activities > Production workers wages 64% [plot | correlate | graph]
...and  Industry > Printing & related support activities > Total value of shipments 64% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total capital expenditures 63% [plot | correlate | graph]
...and  Industry > Printing & related support activities > Value added 63% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Machinery manufacturing 63% [plot | correlate | graph]
...and  Labor > Electrical equipment, appliance, & component manufacturing > Production workers (average per year) 63% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Production workers (average per year) 63% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Annual payroll 62% [plot | correlate | graph]
...and  Labor > Machinery manufacturing > Production workers hours 62% [plot | correlate | graph]
...and  Labor > Printing & related support activities > Number of employees 62% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages 62% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Machinery manufacturing 61% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Machinery manufacturing 61% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours 61% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Number of employees 61% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Annual payroll 61% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Total cost of materials 60% [plot | correlate | graph]
Average: 70%

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 measure of manufacturing activity is derived by subtracting the cost of materials, supplies, containers, fuel, purchased electricity, and contract work from the value of shipments (products manufactured plus receipts for services rendered). The result of this calculation is adjusted by the addition of value added by merchandising operations (i.e., the difference between the sales value and the cost of merchandise sold without further manufacture, processing, or assembly) plus the net change in finished goods and work-in-process between the beginning- and end-of-year inventories.

SOURCE: Annual Survey of Manufactures, 2004

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