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Strength of correlation (R squared): 0.915 (this correlation is very strong)
Outliers:
California
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X Axis |
Y Axis |
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| Variable: |
Economy > GSP > Compensation of Employees > Other professional, scientific and technical services |
Economy > GSP > Real GSP > Real estate |
| Plot Display: |
Logarithmic (base 10) |
Logarithmic (base 10) |
| Definition: |
Other professional, scientific and technical services, Compensation of Employees (current dollars) Compensation of Employees is a statisical term which refers to the total gross (pre-tax) wages paid by employers to employeesfor work done in an accounting period, such as a quarter or a year. It represents roughly the total labor cost to an employer.
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Real estate, Real GSP (chained 2000 dollars) GSP, or Gross State Product is the value of all the goods and services produced in a state. Specific industries measured will give the value of all goods and services in that industry. The Nominal Gross State Product measures the value of all the goods and services produced expressed in current prices. On the other hand, Real Gross State Product measures the value of all the goods and services produced expressed in the prices of some base year.
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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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U.S. Department of Commerce, Bureau of Economic Analysis, Regional Economic Analysis Division. Data for 2003.
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| Correlations: |
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