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Strength of correlation (R squared): 0.852 (this correlation is strong)
Outliers:
Michigan
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X Axis |
Y Axis |
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| Variable: |
Economy > GSP > Nominal GSP > Motor vehicle, body, trailer, and parts manufacturing |
Labor > Transportation equipment manufacturing > Production workers hours |
| Plot Display: |
Logarithmic (base 10) |
Linear |
| Definition: |
Motor vehicle, body, trailer, and parts manufacturing, 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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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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