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Strength of correlation (R squared): 0.937 (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 > Rental and leasing services and lessors of intangible assets |
Economy > GSP > Nominal GSP > Retail trade |
| Plot Display: |
Logarithmic (base 10) |
Linear |
| Definition: |
Rental and leasing services and lessors of intangible assets, 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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Retail trade, Nominal GSP (current 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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