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Correlations > Industry Statistics > Wood product manufacturing > Total cost of materials

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

Correlations between Industry > Wood product manufacturing > Total cost of materials ...

Variable Strength
...and  Industry > Wood product manufacturing > Total value of shipments 98% [plot | correlate | graph]
...and  Industry > Wood product manufacturing > Value added 93% [plot | correlate | graph]
...and  Industry > Wood product manufacturing > Production workers wages 92% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Wood product manufacturing 90% [plot | correlate | graph]
...and  Labor > Wood product manufacturing > Production workers (average per year) 89% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Wood product manufacturing 88% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Wood product manufacturing 87% [plot | correlate | graph]
...and  Industry > Wood product manufacturing > Annual payroll 87% [plot | correlate | graph]
...and  Labor > Wood product manufacturing > Production workers hours 85% [plot | correlate | graph]
...and  Labor > Wood product manufacturing > Number of employees 77% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Wood product manufacturing 69% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Forestry, fishing, and related activities 65% [plot | correlate | graph]
...and  Industry > Wood product manufacturing > Total capital expenditures 57% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Forestry, fishing, and related activities 53% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Forestry, fishing, and related activities 53% [plot | correlate | graph]
...and  Industry > Textile product mills > Total capital expenditures 44% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Forestry, fishing, and related activities 43% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Total cost of materials 38% [plot | correlate | graph]
...and  Labor > Textile product mills > Number of employees 38% [plot | correlate | graph]
...and  Labor > Furniture & related product manufacturing > Production workers hours 37% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Total value of shipments 36% [plot | correlate | graph]
...and  Energy > Total Renewable Energy Consumption 35% [plot | correlate | graph]
...and  Industry > Textile product mills > Production workers wages 35% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Crop and animal production (Farms) 34% [plot | correlate | graph]
...and  Military > DOD Inactive Military Employees > Salaries & Wages 34% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Value added 34% [plot | correlate | graph]
...and  Industry > Wood product manufacturing > Annual payroll (per $ GDP) 34% [plot | correlate | graph]
...and  Industry > Textile product mills > Value added 33% [plot | correlate | graph]
...and  Industry > Paper manufacturing > Annual payroll 33% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Paper manufacturing 32% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Paper manufacturing 32% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Paper manufacturing 31% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Total capital expenditures 31% [plot | correlate | graph]
...and  Health > HCBS Aged & Aged/Disabled 31% [plot | correlate | graph]
...and  Labor > Wood product manufacturing > Production workers hours (per capita) 31% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Furniture and related product manufacturing 31% [plot | correlate | graph]
...and  Industry > Wood product manufacturing > Production workers wages (per $ GDP) 31% [plot | correlate | graph]
...and  Labor > Textile product mills > Production workers (average per year) 30% [plot | correlate | graph]
...and  Labor > Furniture & related product manufacturing > Number of employees 30% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Furniture and related product manufacturing 30% [plot | correlate | graph]
...and  Energy > Hydroelectric Energy Consumption 30% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Furniture and related product manufacturing 30% [plot | correlate | graph]
...and  Education > Elementary & Secondary > Total, All Grades- unknown 30% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Production workers wages 30% [plot | correlate | graph]
...and  Labor > Wood product manufacturing > Number of employees (per capita) 29% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Wood product manufacturing (per capita) 29% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Value added 29% [plot | correlate | graph]
...and  Industry > Textile product mills > Total value of shipments 29% [plot | correlate | graph]
...and  Labor > Furniture & related product manufacturing > Production workers (average per year) 29% [plot | correlate | graph]
...and  Labor > Wood product manufacturing > Production workers (average per year) (per capita) 28% [plot | correlate | graph]
Average: 46%

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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