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Correlations > Industry Statistics > Food manufacturing > Value added

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Correlations between Industry > Food manufacturing > Value added ...

Variable Strength
...and  Industry > Food manufacturing > Total value of shipments 95% [plot | correlate | graph]
...and  Industry > Food manufacturing > Annual payroll 94% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Food product manufacturing 92% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Truck transportation 90% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Truck transportation 90% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Truck transportation 89% [plot | correlate | graph]
...and  Industry > Food manufacturing > Production workers wages 85% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Value added 84% [plot | correlate | graph]
...and  Industry > Food manufacturing > Total cost of materials 83% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Truck transportation 83% [plot | correlate | graph]
...and  Labor > Food manufacturing > Number of employees 83% [plot | correlate | graph]
...and  Health > Number of Nursing Homes 82% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total value of shipments 80% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours 80% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Value added 78% [plot | correlate | graph]
...and  Labor > Fabricated metal product manufacturing > Number of employees 78% [plot | correlate | graph]
...and  Labor > Printing & related support activities > Number of employees 77% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers (average per year) 77% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages 77% [plot | correlate | graph]
...and  Health > Total Hospitals 76% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Total cost of materials 76% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Annual payroll 76% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Total capital expenditures 76% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Number of employees 76% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Total value of shipments 76% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Printing and related support activities 75% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Printing and related support activities 75% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Machinery manufacturing 75% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Printing and related support activities 75% [plot | correlate | graph]
...and  Health > Total State Health Care Spending 75% [plot | correlate | graph]
...and  Industry > Printing & related support activities > Total cost of materials 75% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Nonmetallic mineral product manufacturing 74% [plot | correlate | graph]
...and  Industry > Food manufacturing > Total capital expenditures 74% [plot | correlate | graph]
...and  Health > Total Medicaid Spending, FY2004 74% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Annual payroll 74% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Nonmetallic mineral product manufacturing 74% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Nonmetallic mineral product manufacturing 74% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total cost of materials 74% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Fabricated metal product manufacturing 74% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Fabricated metal product manufacturing 74% [plot | correlate | graph]
...and  Education > Postsecondary > Total Fall Enrollment > White 73% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Fabricated metal product manufacturing 73% [plot | correlate | graph]
...and  Industry > Printing & related support activities > Total value of shipments 73% [plot | correlate | graph]
...and  Industry > Nonmetallic mineral product manufacturing > Production workers wages 73% [plot | correlate | graph]
...and  Labor > Printing & related support activities > Production workers hours 73% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added 72% [plot | correlate | graph]
...and  Industry > Printing & related support activities > Value added 72% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing 72% [plot | correlate | graph]
...and  Labor > Printing & related support activities > Production workers (average per year) 72% [plot | correlate | graph]
...and  Health > Number of Infant Deaths 72% [plot | correlate | graph]
Average: 78%

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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