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Strength of correlation (R squared): 0.199 (this correlation is weak)
Outliers:
Wyoming
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X Axis |
Y Axis |
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| Variable: |
Economy > GSP > Chain-type Quantity Indexes > Warehousing and storage |
Labor > Petroleum & coal products manufacturing > Production workers hours |
| Plot Display: |
Linear |
Linear |
| Definition: |
Warehousing and storage, Chain-type Quantity Indexes (2000 = 100) A quantity index is an index number that measures the change in the level of a quantity from a base year, apart from anychanges in relative prices. The value of the quantity index is 100 for the base year.The Bureau of Economic Analysis uses chain-type annual-weighted indexes, also known as Fisher indexes, as its measure of realoutput and prices. These measures allow for the effects of changes in relative prices and in the composition of output overtime, thereby eliminating a major source of bias inherent in fixed-weight indexes.
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This item covers all hours worked or paid for at the manufacturing plant, including actual overtime hours (not straight-time equivalent hours). It excludes hours paid for vacations, holidays, or sick leave when the employee is not at the establishment.
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| Source: |
U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Analysis Division. Data for 2003.
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Annual Survey of Manufactures, 2004
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| Correlations: |
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